Oppenheimer analyst Colin Rusch reiterated a Buy rating on Sunrun (RUN) today and set a price target of $17. The company’s shares closed yesterday at $13.19.
Rusch observed:
“As RUN reiterated growth for 2018 and stayed in line with achieving at least $1.00/W of unlevered NPV/W, we believe two major variables will drive RUN over the next 12 months. First, and foremost, the company’s ability to close ABS transactions or other asset-backed financings at attractive rates will be a key driver of FCF generation in 2019 and will help refine how investors will value RUN’s portfolio. Second, we believe RUN is positioned to leverage its operating infrastructure into higher growth rates and higher value capture per home even as tariff-driven equipment price increases are integrated near term. We believe 2019 guidance will prove a critical benchmark for understanding how much leverage really exists from the platform. We maintain our $17 PT and Outperform rating.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 10.8% and a 50.8% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sunrun with a $18.90 average price target, representing a 43.3% upside. In a report released yesterday, Credit Suisse also maintained a Buy rating on the stock with a $23 price target.
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The company has a one-year high of $16.45 and a one-year low of $5.08. Currently, Sunrun has an average volume of 1.74M.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RUN in relation to earlier this year.
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SunRun, Inc. operates as a residential solar, storage and energy services company. The firm designs, installs, finances, insures, monitors and maintains the systems of solar energy. It also offers a home solar battery service, Brightbox, that manages household solar energy, storage and utility power with smart inverter technology.
