Goldman Cuts Its SolarCity Price Target But Says It's Still A 'Buy' (SCTY)

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SolarCity reported a Q4 loss of $0.46/share and revenue of $47.3 million on Tuesday afternoon. Both surpassed consensus expectations.

<span style="line-height: 1.5em;">But the stock is down more than 1% this morning after the firm guided to lower and warned on narrower margins.</span>

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.

<b>See Also:</b>

<ul><li>GOLDMAN: Solar Is On The Way To Dominating The Electricity Market, And The World Has Elon Musk To Thank</li><li>Even In New York City, Solar Is Booming</li><li>GOLDMAN: Here's Why Fannie And Freddie Won't Get Overhauled Anytime Soon</li></ul>

SEE ALSO: GOLDMAN: Solar Is On Its Way Toward Dominating Electricity Markets