The gains come on a day California's PUC is expected to vote on a final net metering rate plan (previous) for the state's solar installations; California remains by far SolarCity's biggest market. Greentech Media:
"So far, we’ve seen little sign that commissioners are going to
reconsider the key solar-friendly points of last month’s proposed
decision -- namely, retaining retail-rate compensation for customers'
surplus solar power and rejecting additional fees for net-metered solar
systems." Unlike with December's Nevada PUC ruling, local utilities aren't happy with the California proposal.
Roth Capital has reiterated
a Buy rating and $65 target on SolarCity today, arguing risk/reward is
favorable following a major early-2016 decline. The firm cautions it
doesn't think SolarCity will be "out of the woods" until the California
net metering decision arrives.
Q4 results are due on the afternoon of Feb. 9. SolarCity plunged three months ago in response to the 2015/2016 installation guidance given with its Q3 results. Since then, post-2016 expectations have grown thanks to the ITC extension.
By: Eric Jhonsa.
Review: Emerging Market Formulations & Research Unit, Flagship Records.
For The #FacebookTeam