Deutsche reiterates Buy rating on SolarCity

|By:, SA News Editor

Deutsche Bank reiterates its Buy rating on SolarCity (NASDAQ:SCTY) with a $64 price target, stating shares are likely pricing in a worst case scenario.

Analyst Vishal Shah: The recent five-year extension of the federal Investment Tax Credit for solar could add $30 of incremental equity value, and concerns around SolarCity's availability of capital to achieve 2016 installation targets may be overblown.The company also has sufficient access to tax equity markets and can sell operating assets to achieve growth objectives.

SCTY -2.9% premarket

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