Sunrun (RUN) stock took a beating on Tuesday following an update from the U.S. Government. Republicans kept a complete phase-out of solar and wind tax credits in the budget bill. This is part of an ongoing shift away from green energy under the Trump administration.
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It wasn’t just RUN stock that was affected. Other green energy companies, such as Enphase Energy (ENPH) and First Solar (FSLR), also experienced heavy losses. This could be a sign of things to come for solar stocks as President Donald Trump is only in the first year of his term.
RUN stock was down 37.45% on Tuesday morning, following a 3.6% drop yesterday. The stock has also given up its year-to-date growth with this latest drop.
Is Sunrun Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Sunrun is Moderate Buy, based on eight Buy, eight Hold, and two Sell ratings over the past three months. With that comes an average RUN stock price target of $10.99, representing a potential 14% upside for the shares.
See more RUN stock analyst ratings
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