Sunrun (RUN) PT Raised to $10 at Oppenheimer
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Oppenheimer analyst Colin Rusch reiterated an Outperform rating and boosted his price target on Sunrun (NASDAQ: RUN) to $10.00 (from $9.00) following results.
Rusch commented, "RUN continued to demonstrate the resiliency of its multi-channel model. Value creation and growth are running ahead of competitors. RUN noted it continues to see strong fundamentals even as competitors guide installations lower. The company is also making progress on reducing cost both from an installation and an overhead perspective. As the company works through the last of higher cost equipment we believe equipment cost will begin to be a tailwind in 2017. We are also encouraged to see the company maintaining retained value per watt on its entire portfolio over the last year. We believe the company’s more nuanced pricing level is helping the company maximize value per company. We are increasing our PT to $10 (from $9) and reiterate our Outperform rating."
Shares of Sunrun closed at $4.71 yesterday.
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