SolarCity surged Monday after Goldman Sachs added the firm to its coveted conviction buy list. Meanwhile, rival First Solar slumped on the back of a downgrade from Goldman.
SolarCity (NASDAQ:SCTY) is enjoying its biggest rally in two months after Goldman Sachs (NYSE:GS) upgraded the company to “buy” from “neutral,” citing SCTY’s strong position in the fast-growing market for rooftop solar energy products. Rival First Solar (NASDAQ:FSLR), which isn’t as big in the rooftop market, was cut to “sell” from “buy” at Goldman, sending the stock plunging almost 10%.
The 12 stocks below had a heck of a year in 2013, rallying 257% on average. Will the momentum hold in 2014? Three days into the new year and the answer appears to be “yes,” with the group up an average of 13.4%:
Solar Stocks Shine Already in 2014