UPDATE: Citi Starts Sunlight Financial Holdings (SUNL) at Buy

August 4, 2021 6:33 AM EDT
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Price: $5.45 -0.37%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 34
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(Updated - August 4, 2021 6:33 AM EDT)

Citi analyst Arren Cyganovich initiates coverage on Sunlight Financial Holdings (NYSE: SUNL) with a Buy rating and a price target of $13.00.

The analyst comments "Our positive view of Sunlight Financial stems from a combination of increased underlying demand for residential solar products, an increased propensity to fund these projects with loans (SUNL’s business), and higher average loans as more consumers add on battery storage to their projects. Its business model operates without much credit risk as loans are funded on partner balance sheets and it earns an attractive fee by facilitating the loans and increasing sales activities for the installers. With strong expected growth in loan funding over the foreseeable future, we believe that SUNL will be able to expand its profitability and gain market share within residential solar financial. With substantial upside to our $13 target price we recommend shares at Buy."

For an analyst ratings summary and ratings history on Sunlight Financial Holdings click here. For more ratings news on Sunlight Financial Holdings click here.

Shares of Sunlight Financial Holdings closed at $8.11 yesterday.


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