Sunrun has lost two largest lenders in 90 days, says GLJ Research

GLJ Research says Sunrun (RUN) has lost its two largest lenders in Credit Suisse (CS), which announced its exit from the solar asset-backed securities funding market, and now Silicon Valley Bank (SIVB) in the span of 90 days. Sunrun has loans from Silicon Valley Bank, which are now owned by the FDIC, Federal Deposit Insurance Corporation, the analyst writes in an email to investors. The FDIC will now try to sell those assets, potentially at a discount, GLJ adds. The firm keeps a Sell rating on Sunrun shares with a $12.74 price target. The stock in midday trading is down 9% to $21.49.