Sunrun price target lowered to $15 from $17 at RBC Capital

RBC Capital analyst Christopher Dendrinos lowered the firm’s price target on Sunrun to $15 from $17 and keeps an Outperform rating on the shares. The analyst notes that while higher interest rates have taken a toll on subscriber value, Sunrun continues to generate tangible customer value that is underappreciated given the financial pressures of its peers. Sunrun is also positioned to begin generating $200M-$500M of cash by 2024-end, and this should prove the underlying asset value to investors, the firm added.