Sunrun (RUN) PT Raised to 'Street High' $79 at BofA Securities on Record Low Cost of Debt

September 29, 2020 8:35 AM EDT
Get Alerts RUN Hot Sheet
Price: $23.11 --0%

Rating Summary:
    21 Buy, 2 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 19 | New: 10
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

BofA Securities analyst Julien Dumoulin-Smith raised the price target on Sunrun (NASDAQ: RUN) to a 'Street High' $79.00 (from $51.50) while maintaining a Buy rating.

Dumoulin-Smith highlighted the latest asset-backed security (ABS) issuance for RUN’s post-consolidation resi solar PPA/lease assets, underscores "the record low cost of debt." As a result, the firm lowered its discount rates to 3.5% unlevered (4% prior) to reflect lower cost of capital.

The analyst noted that with a customer base of 500K+ post-consolidation, management expects to pursue upsell opportunities near-term. The firm sees opportunity through expressed ‘blend and extend’ contracts.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Hot Comments