Evercore ISI Remains a Buy on Sunrun (RUN)

In a report released yesterday, James West from Evercore ISI maintained a Buy rating on Sunrun (RUNResearch Report), with a price target of $64.00. The company’s shares closed last Thursday at $24.99, close to its 52-week low of $18.61.

According to, West has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -14.3% and a 38.9% success rate. West covers the Industrial Goods sector, focusing on stocks such as Nextier Oilfield Solutions, Liberty Oilfield Services, and Eos Energy Enterprises.

Sunrun has an analyst consensus of Strong Buy, with a price target consensus of $49.47, an 88.2% upside from current levels. In a report issued on April 20, Bank of America Securities also maintained a Buy rating on the stock with a $41.00 price target.

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Based on Sunrun’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $435 million and GAAP net loss of $38.52 million. In comparison, last year the company earned revenue of $320 million and had a GAAP net loss of $169 million.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RUN in relation to earlier this year.

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SunRun, Inc. engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and install solar energy systems for homeowners through its direct-to-consumer channel. It also offers plans such as monthly lease, full amount lease, purchase system, and monthly loan. The company was founded by Edward H. Fenster, Robert N. Kreamer and Lynn M. Jurich in January 2007 and is headquartered in San Francisco, CA.

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