RBC Capital Upgrades Sunrun (RUN) to Outperform

RBC Capital analyst Christopher Dendrinos upgraded Sunrun (NASDAQ: RUN) from Sector Perform to Outperform with a price target of $16.00 (from $12.00).

The analyst comments: "We upgrade RUN to Outperform with a PT of $16. We believe a multiple rerate is warranted given greater certainty on the longer-term opportunity following treasury guidance clarification. OB3 guidance changes have positive implications for RUN's business model and clarity on commence construction rules for the ITC/PTC further derisk the longer term growth outlook and value proposition. Our new PT implies a ~15% cash gen yield to 2026 which we believe is within the historical range."

For an analyst ratings summary and ratings history on Sunrun click here. For more ratings news on Sunrun click here.

Shares of Sunrun closed at $13.92 yesterday.

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