Sunrun upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Sunrun (RUN) to Outperform from Sector Perform with a price target of $16, up from $12. The firm believes the shares deserve a higher multiple as the Treasury guidance clarification provides greater certainty on its longer term opportunity. The guidance changes have positive implications for Sunrun’s business model and the clarity on commence construction rules further de-risk its longer term growth outlook and value proposition, the analyst tells investors in a research note.