Vikram Bagri, an analyst from Citi, maintained the Buy rating on Sunrun. The associated price target remains the same with $26.00.
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Vikram Bagri has given his Buy rating due to a combination of factors that highlight Sunrun’s strong financial performance and strategic initiatives. The company generated $108 million in cash for the third quarter, surpassing both the firm’s estimate and the high end of its guidance. This financial strength, coupled with management’s commitment to reducing leverage and potentially returning capital to shareholders, indicates a promising outlook for the company.
Additionally, Sunrun’s expansion in its customer base and innovative financing strategies contribute to its growth potential. The increase in home-to-grid customers and the maintenance of a healthy storage attach rate demonstrate the company’s ability to capitalize on market opportunities. These factors, along with the potential for solar credit spread compression and the expected ramp-up in installations, support Bagri’s optimistic view on Sunrun’s future performance.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RUN in relation to earlier this year.