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SolarCity Climbing on Buy Rating

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SolarCity Corp (NASDAQ:SCTY) shares are advancing this morning after the solar equipment maker received an initiated buy coverage from Deutsche Bank with a price target of $90 a share. Deutsche Bank believes that SolarCity’s customer base will double in 2014 and 2015 because renewable sources of energy such as solar has climbed to the two second spot for electricity generating capacity in the US. The federal government’s massive tax credits for solar energy is also contributing to growth within the industry and leading to wider adoption of solar by commercial and residential users.