NEW YORK (TheStreet) -- Shares of Vivint Solar (VSLR - Get Report) were gaining 2.7% to $14.01 Monday after Deutsche Bank initiated coverage of the company with a "buy" rating.

The analyst firm set a price target of $20 for the solar power company. Analysts Vishal Shah and Jerimiah Boorean-Phelps wrote that Vivent is "one of the top residential solar installers in the country and is poised to benefit from accelerating growth of retail customers switching to solar as an increasing number of states reach grid parity across the U.S."

The analysts said "Vivint's door-to-door sales model should enable lower customer acquisition costs and we expect the introduction of additional innovative financing structures to act as catalysts to help lower the cost of capital and drive additional growth."

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VSLR Chart VSLR data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.