- SolarCity (SCTY -2.2%) and Canadian Solar (CSIQ +0.4%) are initiated with Buy ratings at Stifel, which says recent solar market volatility has created attractive buy points for the stocks.
- The firm forecasts growth in the solar industry, noting that solar module prices have plummeted 60% since 2011, helping solar compete efficiently with natural gas, yet the industry's 2% worldwide penetration is expected to rise to only 4% in 2018, leaving big opportunities for market share grabs.
- SCTY, who leads the U.S. residential solar installation market with a 34% share, is particularly well-leveraged to ramp its market share, while CSIQ is one of the leading producers with a strong cost position, the firm says.