Oppenheimer Adjusts Estimates on Sunrun (RUN); Reiterates Outperform
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall St. slips on earnings; Apple results due
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Oppenheimer reiterated an Outperform rating on Sunrun (NASDAQ: RUN), and raised the price target to $9.00 (from $8.00), following the company's 2Q earnings report. Oppenheimer adjusted revenue and GAAP EPS estimates to $143M and ($0.25), from $130.2M and ($0.34) for the 3Q, versus the consensus estimates of $132M and ($0.62).
Analyst Colin Rusch commented, "As RUN reported deployments and bookings ahead of expectations, we believe the company is benefiting from several structural advantages. First, we view the multichannel approach to deal sourcing, particularly leveraging its distribution business, as critical to its industry-leading NPV/W performance. Second, we believe its history as a finance entity has led to discipline around unit economics ahead of peers which we believe will drive investor returns. Last, but not least, we view its technology-agnostic approach is assisting the company’s ability to raise capital for deployments and back leverage on its portfolio. Notably, we expect the company to begin deploying string inverters with rapid shutdown capability later this year. We reiterate our Outperform rating and raise our PT to $9 (from $8)."
Shares of Sunrun closed at $5.41 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cynosure (CYNO) PT, Estimates Trimmed at Stifel Despite Solid Results
- Baxter (BAX) PT, Estimates Raised at Evercore ISI
- Needham & Company Retains Buy Rating on Nielsen (NLSN) Amid Disappointing Results and Sell-Off
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!