SolarCity Corp (SCTY): Stifel Initiates Coverage With “Buy” And $64 Target

Shares of SolarCity Corp are up 2.35% this morning in premarket trading after Stifel initiated coverage on the stock yesterday.  Stifel’s Sven Eenmaa began SolarCity at a “buy” rating and a price target of $64.  The decision came yesterday, despite SolarCity’s 7.7% drop on the day, as the markets retreated due to energy prices continuing to slump, among other things.  While there are some positive developments at SolarCity, the stock has been struggling this year, down nearly -18%.  Meanwhile, Stifel’s target price of $64 implies over 47% upside from current prices.

SolarCity holds most market share of US solar...

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