By Dhirendra Tripathi
Investing.com – Sunrun (NASDAQ:) shares were up 3.6% in Tuesday’s trade following two positive research notes that called for higher price targets for the stock.
Goldman Sachs’s (NYSE:) upgrade to buy with a $77 tag followed Susquehanna Financial initiating coverage of the stock Monday with a positive rating and a $75 target.
The new price targets are higher by 27% and 30% from Sunrun’s current stock price of $59.
According to a report by Seeking Alpha, thenotwithstanding, Goldman’s Brian Lee sees many reasons to remain selectively positive on the group, including “solid fundamentals that have momentum to start 2021,” a healthy financing backdrop, and the potential for policy catalysts, particularly in the U.S.
For Sunrun, Lee says concerns around interest rate risk are overstated, with the stock down around 40% from January and the company’s growth accelerating, while absolute yields remain quite low, especially when considering the company’s potential to refinance old debt.
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