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Tesla (TSLA) is ‘grossly undervaluing’ SolarCity (SCTY) at $2.8 billion, says Credit Suisse

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In a new note to client today, Credit Suisse downgraded SolarCity’s (SCTY) stock from ‘Outperform’ to ‘Neutral’ with a price target of $27.00 (from $38.00 previously) based on what it sees as an increased probability of the Tesla’s (TSLA) acquisition deal closing, which it estimates to be ‘grossly undervalued’. Expand