SolarCity shares cut to neutral at Baird
Analysts at Baird on Tuesday downgraded SolarCity Corp. stock to neutral on its pending sale to Tesla Motors Inc. , which the analysts considered "highly likely" to go through. The deal "demonstrates growing interest in energy technology companies, which we think will continue as the focus on energy efficiency, renewable energy, and resource management increases," the Baird analysts said. On Monday,the two companies held a call with analysts and touted money-saving opportunities for the proposed deal, valued at $2.6 billion. Shares of SolarCity fell 2.1% and shares of Tesla also declined 2% Tuesday.
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