Growing solar panel installations and a smart play around interest rates are set to propel shares of Sunrun higher, according to Guggenheim. Analyst Joseph Osha reiterated his buy rating for the residential solar company in a note Thursday and raised his price target to $36 from $35. That implies a 152% upside from the stock's closing price of $14.26 on Wednesday afternoon.
RUN YTD mountain Sunrun YTD chart "We have a higher level of confidence in RUN's ability to grow MW [megawatt] installations next year, even as the overall US residential industry declines by 3% in 2024, according to our estimates," the analyst said. "Our 9% outlook for RUN's MW installations is moderately above consensus.
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