Sunrun price target raised to $14 from $12 at Clear Street

Clear Street raised the firm’s price target on Sunrun (RUN) to $14 from $12 and keeps a Buy rating on the shares. The U.S. Treasury today issued positive guidance relating to the construction start definition for the safe harbor of the investment tax credit 48E, the analyst tells investors in a research note. The firm believes no significant negative change to the Internal Revenue Service definition has occurred, which is a positive for Sunrun. The guidance indicates no increase beyond the minimum of 5% of project total value for continuity of safe harbor of the ta credit for Sunrun for new solar power systems, says Clear Street.