Sunrun (RUN) Gets a Buy Rating from Oppenheimer


In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Sunrun (NASDAQ: RUN), with a price target of $17. The company’s shares closed yesterday at $14.34.

Rusch wrote:

“RUN modestly beat 2Q18 deployment guidance while maintaining guidance for 15% Y/Y unit growth and $1.00/W in retained value. While some investors may be disappointed by 2Q18 unit economics, we believe the underlying story on RUN in an increasing leadership position in the market and its ability to refinance its growing portfolio. We believe solar assets both pre- and post-tax equity flip are seeing more attractive rates as investors better understand the low-risk nature of cash flows. As we raise our price target based on $77M in FCF for 2019, we note that we see potential for RUN to generate FCF of $100-$125M+, and we would not be surprised to see a steady cadence of financings from RUN over the next 18 months which driving FCF ahead of our estimates.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 12.8% and a 50.5% 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 Moderate Buy analyst consensus rating for Sunrun with a $18 average price target.

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The company has a one-year high of $16.45 and a one-year low of $4.21. Currently, Sunrun has an average volume of 2.33M.

Based on the recent corporate insider activity of 41 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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