Sunrun price target lowered to $20 from $24 at Goldman Sachs

Goldman Sachs analyst Brian Lee lowered the firm’s price target on Sunrun (RUN) to $20 from $24 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Solar. The firm notes it is “acutely focused” on the potential installation decline for the company as well as sequential improvements through the balance of the year, adding that while it believes there is a strong shift occurring towards the TPO – Third-Party Ownership – market given the expiration of 25D tax credits at the end of 2025, Sunrun remains in a prudent growth mode. Goldman further continues to expect Sunrun to emphasize its battery storage segment, including any incremental progress with VPPs/grid services.