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Lari Bat/iStock by way of Getty Photos
Sunrun (NASDAQ:RUN) +1.6% in Wednesday’s buying and selling because it wins a bullish score from Northland Securities, which begins protection with an Outperform score and $60 worth goal, calling it “a high-quality enterprise with very robust and reliable money flows.”
Northland analyst Abhishek Sinha cites Sunrun’s (RUN) “versatile multi-channel enterprise mannequin which is able to burgeon with rising photo voltaic demand” supported by the brand new Inflation Discount Act.
Sinha stated the latest pullback gives a “nice alternative for all buyers looking for publicity to the residential photo voltaic market however particularly for many who missed the inventory run pushed by the passage of the IRA invoice.”
The analyst sees the U.S. residential photo voltaic market rising by 10%-15% Y/Y in 2022 and 2023, marking “the very starting of a secular bull market thesis as residential photo voltaic ought to grow to be extra extensively prevalent, enormously benefiting” Sunrun (RUN).
Sunrun (RUN) doubtless will see “minimal profitability forward” and a worsening macroeconomic surroundings, Juxtaposed Concepts writes in an evaluation posted lately on In search of Alpha.
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