Goldman Small Cap Research Triples Its Price Target On Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 For The Next Three--Six Months After SIRC Surges Past The Prior Target And It Sees More Upside Ahead

Goldman Small Cap Research yesterday (January 4, 2021) tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months after it blew past the previous price target it set only last month. Goldman in the Update Report also believes there is more upside ahead for SIRC -- particularly because the Company has shown dramatic growth from aggressive M&A activity. It cited SIRC's Q3 FY 2021 sales jump of 130% YOY to $5.2 million in sales. It also noted SIRC's move into new adjacent clean air categories such as EV charging stations in addition to its solar dominance in Southern California.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPowerCorp. (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).

Goldman Small Cap Research Triples Its Price Target On Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 For The Next Three--Six Months After SIRC Surges Past The Prior Target And It Sees More Upside Ahead

Goldman in its initial report projected sales of Solar Integrated Roofing Corp. (OTC PINK: SIRC) would reach $38.5 Million In FY 2022. The Goldman report said that "SIRC is currently hitting on all cylinders," the current analysis finds, adding that SIRC is expanding its solar footprint with organic and acquisition growth.

Goldman Is Bullish On SIRC's M&A Growth Strategy

Senior Analyst Rob Goldman Of Goldman Small Cap Research is bullish on SIRC's M&A strategy, and cites the company's new agreement with Solectrac, Inc., an electric tractor developer and manufacturer located in Northern California. The company is now 24% owned by Ideanomics (NASDAQ: IDEX). Solectrac is an applicant for a $500 million USTDA grant.

The Goldman Small Cap Research forecasts that Solar Integrated Roofing Corp. (OTC PINK: SIRC) will reach $38.5 million in volume in fiscal 2022. Goldman Small Cap Research Triples Its Price Target On Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 For The Next Three--Six Months After SIRC Surges Past The Prior Target And It Sees More Upside Ahead.

Goldman Report Praises Impact Of Agreement With Vertical Solectrac

"In our view," the Goldman Report summarizes, "this partnership offers SIRC a meaningful presence in a vertical that demands change away from fossil fuels to a sustainable, efficient power system. Solectrac management noted that SIRC can now enable Solectrac to supply complete systems across the globe, regardless of the power grid connectivity, or lack thereof, while reducing the equipment costs for its clients, by melding the SIRC solar technology with Solectrac's farming equipment."

M&A With Verticals And Cross-Selling Synergies Sets The Stage For More Growth, Goldman Says

Goldman Small Cap Research in its updated report also explained that while SIRC's discounted valuation today remains below its peer group of companies, the Company's stock still has a lot to gain in valuation metric. "Thus, we believe that these shares (SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family," it concluded. The Goldman report added: "Based on the Company's price/sales metrics relative to our price target (2.7x next year's sales), we have determined that for each new $5 million in acquired business, SIRC's shares should enjoy a $0.10 per share rise." It specifically likes SIRC's entry into the EV residential charing station market. Cross-selling in this market -- leveraging the Company's existing customers -- could generate strong volume growth and profitability, it finds.

A Perfect Storm Of Solar And Electric Power Clean Air Opportunities

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is eyeing a national footprint and an up listing to the NASDAQ SmallCap stock exchange

David Massey, CEO, is overseeing a multi-revenue stream growth strategy that includes a fast-growth multi-dimensional plan: entering the new home market, certification to install Tesla (NASDAQ: TSLA) solar roofs and its Powerwall line of lithium-ion solar batteries, a new joint venture with Enerev, LLC, possibly leading to a purchase, plus a string of acquisitions of numerous solar and HVAC companies. He also has established for the Company a dedicated EV charging station subsidiary.

SIRC itself forecasts a volume of $40 million for FY 2022 -- slightly north of the $38.5 million projected for it that year by the new Goldman report. Similarly, Massey of Solar Integrated Roofing Corp. (OTC PINK: SIRC) projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.

Exponential Sales Growth Seen For Solar Integrated Roofing Corp. (OTC PINK: SIRC)

The initial Goldman Report specifies when SIRC will become profitable. It estimates sales of $38.5 million in FY 22 when it sees a positive operating income of $1,040,000 and a net income of $1,370,000. Goldman Small Cap Research Triples Its Price Target On Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 For The Next Three--Six Months After SIRC Surges Past The Prior Target And It Sees More Upside Ahead.

It sees exponential growth for Solar Integrated Roofing Corp. (OTC PINK: SIRC) as it continues its growth formula of organic and acquisition growth and increases its volume and growth geographic footprint, the report says.

SIRC Cross-Selling More Add Ons, Such As Tesla's (NASDAQ: TSLA) Powerwall Storage Battery Units

SIRC's revenue could be even higher if the Company's team is able to cross-sell more add ons, such as Tesla's (NASDAQ: TSLA) Powerwall storage battery units and new HVAC installations for new residences. As California's law now mandates solar energy for new residences built in 2020 and beyond, this is a perfect solar storm of opportunities for SIRC.

New Strategies And Partnerships Present SIRC With Multiple Solar Opportunities

David Massey of Solar Integrated Roofing Corp. (OTC PINK: SIRC) said of the company's entry into new home developments alongside several San Diego builders, "In addition to the roofing and solar revenue from each new housing development, we maintain the upside opportunity to sell the end home buyer additional solar or battery storage solutions, creating an exciting new sales pipeline for our growing team.

"I look forward to continued growth into 2021 and beyond as we work to create value for our shareholders." Goldman Small Cap Research Triples Its Price Target On Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 For The Next Three--Six Months After SIRC Surges Past The Prior Target And It Sees More Upside Ahead.

SIRC A Certified Tesla (NASDAQ: TSLA) Solar Installer

David Massey Projects SIRC Will Become A NASDAQ Small Cap Company By Late FY 2022

David Massey of the Company, said, "Our main focus is roofing and solar." However, the company is "able to raise the amount of its (sales) tickets" he said by additionally partnering with Tesla (NASDAQ: TSLA) as a certified installer of that company's new solar roof system and its solar battery backup Powerwall product. The net result is that SIRC can install a solar roofing system plus solar battery and generate additional revenue. Tesla is now a new member of the S&P Index.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) eyes cross-selling opportunities in solar, backup solar storage batteries, HVAC and contract electrical work.

Learn more about SIRC at Solar Integrated Roofing Corp. (OTC PINK: SIRC).

Source: Stock Market Press

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