Shares of Vivint Solar are soaring during Friday morning trading as Deutsche Bank (DB - Free Report) upgraded the stock to “buy” from “hold.” During pre-market trading, Vivint Solar stock spiked by 6.26% to $2.80. Deutsche Bank also raised its price target to $7.50 from $3.50 on the Lehi, UT-based solar energy company.
As of 11:36 AM ET, shares of VSLR are up 45.63%.
Deutsche Bank believes that the shares are trading at a discount to valuation and operating assets.
“With the tax equity environment for VSLR improving, we believe the company remains in a strong position to achieve its 2016 installation targets,” the bank wrote in a note to investors, per an article from The Street.
“We believe VSLR's powerco assets are worth about $5/share (assuming 8% discount rate) which would imply that at current levels, shares are assuming the devco is worth ($2.50)/share,” Deutsche Bank added.
Vivint Solar has a Zacks Rank #3 (Hold).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Shares of Vivint Solar are soaring during Friday morning trading as Deutsche Bank (DB - Free Report) upgraded the stock to “buy” from “hold.” During pre-market trading, Vivint Solar stock spiked by 6.26% to $2.80. Deutsche Bank also raised its price target to $7.50 from $3.50 on the Lehi, UT-based solar energy company.
As of 11:36 AM ET, shares of VSLR are up 45.63%.
Deutsche Bank believes that the shares are trading at a discount to valuation and operating assets.
“With the tax equity environment for VSLR improving, we believe the company remains in a strong position to achieve its 2016 installation targets,” the bank wrote in a note to investors, per an article from The Street.
“We believe VSLR's powerco assets are worth about $5/share (assuming 8% discount rate) which would imply that at current levels, shares are assuming the devco is worth ($2.50)/share,” Deutsche Bank added.
Vivint Solar has a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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