Sunrun (RUN) PT Lowered to $23 at UBS

UBS analyst Jon Windham lowered the price target on Sunrun (NASDAQ: RUN) to $23.00 (from $26.00) while maintaining a Buy rating.

The analyst commented, "We update our RUN estimates and decrease our PT to $23. We revise our 2026/27/28 solar capacity deployed forecasts to 935/981/1,079 from 992/1,121/1/1,233MW previously. Revisions to our capacity installed estimates translate to changes in our adj. EPS estimates.
We anticipate that the expiry of the homeowner solar tax credit as of YE2025 should enable higher close rates for RUN and potentially lower creation cost during the course of 2026. We maintain our Buy rating following the recent share price retrenchment. RUN and the residential solar space remains a relatively high risk/reward market sector."

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