SolarCity (NASDAQ:SCTY) 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.
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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.