Sunrun upgraded to Buy at Jefferies ahead of growth inflection

As previously reported, Jefferies upgraded Sunrun (RUN) to Buy from Hold with a price target of $21, up from $11. Cash generation is “expected to finally materialize” in the second half and the firm sees a strong growth set up into 2026 as U.S. Third-Party Owners prepare to claim wallet share in the wake of 25D expiration and a narrowing in the competitive landscape, the analyst tells investors. As the top residential solar TPO in the U.S. market, the firm views Sunrun as “best positioned to benefit,” likely growing in the high-single digits to teens range in 2026, the analyst added.