Citi analyst Vikram Bagri opened a "30-day catalyst upside watch" on shares of Sunrun ahead of the Q1 results. The firm keeps a Neutral rating on the shares with a $23 price target. The analyst says "strong" Q1 results, potential for a "soft guidance increase," pricing of the latest asset backed securities alleviating concerns about financing, and a strong backlog at the end of Q1 could help address near term growth concerns and drive the stock higher. These positive catalysts combined with negative sentiment on residential installers implies attractive setup for Sunrun shares, the analyst tells investors in a research note.
Published first on TheFly
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