Why SolarCity's Hitting All-Time Highs Today

Before you go, we thought you'd like these...
Before you go close icon

SolarCity had a heck of a run in 2013, and it appears the company is starting this year on the same note: Shares of the solar-panel maker jumped more than 10% during morning trading following an upgrade from Goldman Sachs.

The firm raised its price target on SolarCity and placed it on Goldman Sachs' "Conviction Buy" list. Goldman expects SolarCity to benefit from rapid growth in rooftop solar installation.

Motley Fool analyst Taylor Muckerman expects a lot of growth for SolarCity across its geographies. He's a shareholder himself, and admits the volatility of the stock can be hard for investors to stomach, but thinks the payoff is worth it.

Get our No. 1 stock pick for 2014
There's a huge difference between a good stock, and a stock that can make you rich. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of the latter. You can find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.

The article Why SolarCity's Hitting All-Time Highs Today originally appeared on Fool.com.

Erin Kennedy has no position in any stocks mentioned. Taylor Muckerman owns shares of SolarCity. The Motley Fool recommends and owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading