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Sunrun (NASDAQ:RUN) sizzled in Thursday’s buying and selling, closing +18.7% after the most important U.S. residential photo voltaic firm reported Q3 earnings that routed expectations, with analysts touting the corporate’s sturdy pricing energy and market alternative as vitality prices rise.
Sunrun (RUN) “continues to flex its pricing energy with out hurting demand,” Susquehanna analyst Biju Perincheril summed up, based on Bloomberg.
The corporate forecasts photo voltaic vitality capability put in will improve ~25% for the complete yr, and expects web subscriber worth will proceed to rise in This fall after the worth of every subscriber rose to $13,259 in Q3 from $7,910 in Q2.
Sunrun (RUN) elevated photo voltaic vitality capability put in by 17% Y/Y in Q3, whereas sturdy demand pushed by quickly rising utility and vitality costs offers confidence within the firm’s steerage, based on KeyBanc analyst Sophie Karp.
Sunrun (RUN) is properly positioned to profit from rising demand for residential photo voltaic panels, and excessive utility inflation permits the corporate to lift costs whereas nonetheless offering a “sturdy buyer worth proposition,” Evercore ISI’s James West stated.
Different photo voltaic names additionally rallied Thursday, together with (NOVA) +9.7%, (SPWR) +5.7%, (FSLR) +5.1%, (SEDG) +3.4%, (ARRY) +2.7%, (ENPH) +2.3%.
Sunrun (RUN) shares are “mispriced in gentle of [an] increasing buyer base,” InvestOhTrader wrote in an evaluation printed final week on Looking for Alpha.
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