GLJ Research lowered the firm’s price target on Sunrun (RUN) to $4.63 from $6.73 and keeps a Sell rating on the shares, which implies 63% downside from current levels. The firm has “strengthened” conviction in its Sell call after speaking with former Biden administration energy official. The official believes Sunrun will not be in the 20% of residential solar installers that will survive the ongoing structural shakeout, the analyst tells investors in a research note.
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