Vivint Solar (VSLR) PT Raised to $17 at Roth Capital After Being Acquired by Sunrun

Roth Capital analyst Philip Shen raised the price target on Vivint Solar (NYSE: VSLR) to $17.00 (from $15.00) while maintaining a Buy rating citing momentum in shares as cost synergies and advantages of scale drive improved growth and profitability, mostly caused by the acquisition by Sunrun.

The analyst stated "Late Monday, RUN (Buy) announced a definitive agreement to acquire VSLR for an enterprise value of $3.2bn (based on 7/6/20 closing prices) in an allstock transaction. Both stocks rallied on the announcement with VSLR up 38% and RUN up 23%. We see the momentum in shares continuing ahead as cost synergies and advantages of scale drive improved growth and profitability. We reiterate our Buy rating for VSLR and increase our price target to $17 from $15 given the synergies we expect."

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