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Sunrun initiated with Neutral, $30 fair value at Janney Montgomery

Janney Montgomery Scott analyst Thomas Meric initiated coverage of Sunrun with a Neutral rating and $30 fair value estimate. The analyst expects in-line results relative to the company’s 2022 guidance and notes the shares are trading in-line with the fair value estimate. He adds that the Inflation Redaction Act improves solar economics throughout the industry whether in manufacturing, installation, ownership or development.

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