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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

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Jan 05, 2021 (Stock Market Press via COMTEX) -- 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. /zigman2/quotes/205021014/composite RUN -12.00% , Blink Charging Co. /zigman2/quotes/205311237/composite BLNK -10.17% , Tesla, Inc. (NASDAQ: TSLA), SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG -5.78% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR -5.18% , SunPowerCorp. (NASDAQ: SPWR), Gibraltar Industries, Inc. /zigman2/quotes/204241548/composite ROCK -0.64% 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 /zigman2/quotes/208536109/composite IDEX -5.62% . 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 /zigman2/quotes/203558040/composite TSLA -4.84% 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.

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