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Friday, August 16, 2013

SolarCity (SCTY) 2014 Price Target - $55-$65

SolarCity (SCTY) Price Target 2014 - $55-$65 per share


SolarCity (SCTY) stock recently pulled back after reporting a beat on both earnings and revenue.  The company also bought one of the best solar marketing firms, Paramount Solar.  My SolarCity (SCTY) price target for 2014 is now in the range of $55-$65 per share.  Chairman Elon Musk owns roughly 25% of this company so expect SCTY to perform well over the next year.  Revenue growth will continue to accelerate and the company will continue to narrow it's quarterly loss while customer sign ups will surge.  As more and more Tesla cars hit the roads, the company will power more charging stations and home charging kits.

SolarCity (SCTY) remains a strong buy below $37 and a break above $46 will get the party started again.

Also see - Top Stocks 2014 - Top Stock Gainers 2013

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