{"id":10703,"date":"2014-09-26T12:59:17","date_gmt":"2014-09-26T16:59:17","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=10703"},"modified":"2014-09-26T13:00:37","modified_gmt":"2014-09-26T17:00:37","slug":"a-win-credit-suisse-on-solarcity-buffalo-deal","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2014\/09\/a-win-credit-suisse-on-solarcity-buffalo-deal.html","title":{"rendered":"A Win: Credit Suisse on SolarCity Buffalo deal"},"content":{"rendered":"

\r\nA big bank rave review of\r\n\r\nthe Buffalo deal<\/a>.\r\n

\r\nClaudia Assis wrote for MarketWatch 26 September 2014,\r\n\r\nSolarCity’s N.Y. factory deal ‘better than expected’<\/a>,\r\n

\r\n

\r\n\r\n<\/a>\r\nSAN FRANCISCO (MarketWatch) — SolarCity Corp.’s solar-panel\r\nfactory in upstate New York could allow the solar installer to\r\nreduce its costs and save about $400 million a year, analysts at\r\nCredit Suisse estimate.\r\n<\/p>\r\n

\r\nSolarCity SCTY, -0.66% and New York struck a deal earlier this week,\r\nwith the state announcing a $750 million package to build the\r\nsolar-panel factory near Buffalo.\r\n<\/p>\r\n

\r\nThat deal “was significantly better than expected,” the\r\nCredit Suisse analysts said in note released late Thursday.\r\nSolarCity, which would lease the factory built by the state, would\r\nhave to invest $5 billion in the area over 10 years.\r\n<\/p>\r\n

\r\nIt sets SolarCity up for a reduction in costs in upcoming years, a\r\nwin even as SolarCity takes on execution risks and it doesn’t have\r\nexpertise in manufacturing technology, according to the Credit\r\nSuisse report.\r\n<\/p>\r\n

\r\n“Furthermore, we see little risk of underutilized capacity as\r\nSolarCity will continue to have a hybrid model, using their own\r\nfactory for only a fraction of anticipated demand,” the\r\nanalysts added.\r\n<\/p>\r\n

\r\nCredit Suisse kept its “outperform” rating on the stock\r\nand a price target of $97, implying a 56% increase over early\r\nFriday’s share price.\r\n<\/p>\r\n<\/blockquote>\r\n

\r\nDisclosure: yes, I do own SolarCity stock.\r\n

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