NEW YORK (TheStreet) -- SolarCity (SCTY) shares are up 3.4% to $73.67 on Wednesday after being initiated with a "buy" rating and $94 price target by analysts at Canaccord Genuity (CCORF).
The price target represents a 27% upside from the solar energy solutions provider's opening price.
The firm believes that the largest residential installer in the U.S. will continue to leverage its market share to reduce component costs and aggressively grow its components.
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TheStreet Ratings team rates SOLARCITY CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOLARCITY CORP (SCTY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally high debt management risk and feeble growth in its earnings per share."