Shares of Sunrun (NASDAQ: RUN) surged over 23% so far in today’s trading session. This can be attributed to California regulators releasing a new proposal to reform its rooftop solar subsidy.
The new proposal is meant to optimize grid use and help California meet its climate goals and increase reliability. It’s also aimed at promoting affordability for poor and middle-class residents.
Is RUN a Good Stock to Buy?
RUN stock has a Strong Buy consensus rating based on 11 Buys, one Hold, and zero Sells assigned in the past three months. The average RUN stock price target of $49.82 implies 64.69% upside potential.
Other tickers that are surging include:
- SunPower (NASDAQ: SPWR)
- Enphase (NASDAQ: ENPH)
- Invesco Solar ETF (TAN)
- SolarEdge Technologies (NASDAQ: SEDG)