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Sunrun (NASDAQ:RUN) +9% in Thursday’s trading after reporting a surprise Q2 profit and a slight increase in sales, prompting widespread praise from analysts.
Janney upgraded Sunrun (RUN) to Buy from Neutral with a $32 price target, citing the company’s “operationally solid quarter, beating customer additions expectations and reiterating its stance for continued margin expansion over the next few quarters.”
Sunrun (RUN) is gaining market share from small and large competitors through its differentiated product offering, particularly its Shift battery, and ability to sell into complicated tariff markets, Janney analyst Thomas Meric said, and its margins are expanding through higher battery attach rates, ITC adders, and lower component pricing.
The company is “executing on its plan, despite a volatile solar market, and we expect this continued steadiness will come through over the next several quarters in customers additions and margins,” Meric wrote.
Sunrun (RUN) “continues to experience strong momentum across all of its sales channels and is expanding its customer value proposition,” according to Evercore ISI analyst James West, who rates the stock at Outperform with a $58 PT.
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