GLJ Research upgraded Sunrun (RUN) to Hold from Sell ahead of the Q3 report. The firm believes being short the stock into earnings “carries with it quite a bit of risk over the near-term.” GLJ’s long-term view on Sunrun’s business being a “cash-incinerating science project is unchanged.” However, due to the recent trend among utilities, which involves increasing the price of electricity they charge customers, and Sunrun’s new focus of offering leases below the price of power customers pay, “there has been somewhat of a renaissance” in the U.S. solar power purchase agreement markets, contends the firm.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on RUN:
- Sunrun builds, operates NY residential power plants with Orange and Rockland
- Closing Bell Movers: Starbucks falls 4% on negative pre-announcement
- Enphase Energy down 9% at $84.10 after miss on Q3 earnings, Q4 outlook
- What Are the Best Stocks to Buy for a Trump/Harris Win?
- Sunrun price target lowered to $23 from $24 at Susquehanna
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
