UBS Upgrades Sunrun (RUN) to Neutral

UBS analyst Jon Windham upgraded Sunrun (NASDAQ: RUN) from Sell to Neutral with a price target of $55.00 (from $47.00).

The analyst comments "We upgrade shares of RUN from Sell to Neutral as we now see more balanced risk/reward following an over 50% share price correction from RUN’s 2021 highs. Our Sell thesis was premised on our expectation for a pullback in near-peak residential solar valuations given the likelihood that any incremental Federal policy support would likely disappoint relative to what were, in our view, inflated expectations. Potential implementation of a standalone storage tax credit and/or conversion of the Federal Investment Tax Credit (ITC) to direct-pay would drive a more positive view. While increasing interest rates are a key downside risk and keep us from being more positive in the near-term."

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 $47.55 yesterday.

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