Goldman Cuts Its SolarCity Price Target But Says It's Still A 'Buy'
But the stock is down more than 1% this morning after the firm guided to lower and warned on narrower margins.
Citing that, as well as increased operating expenses, Goldman's clean tech team is ratcheting down its 12-month price target to $85 from $88.
The stock is currently trading at $77.
The analysts are reaffirming their buy rating, and they remain upbeat on the industry as a whole.
"We remain bullish on the overall growth momentum in US solar rooftop installations, and see SolarCity's scale - particularly in geographic breadth and access to capital (e.g. ABS [asset-backed securities - ed.) - resulting in further share gains as well as positive cash flow in 2014."
Also this morning, Deutsche Bank's Vishal Shah reiterated his buy rating and $90 price target.