Sunrun price target lowered to $34 from $39 at BMO Capital

BMO Capital analyst Ameet Thakkar lowered the firm’s price target on Sunrun to $34 from $39 but keeps an Outperform rating on the shares after its Q4 results and guidance. The company’s 2023 outlook was meaningfully better than the whisper numbers from investors who had been bearish on the U.S. residential solar market, the analyst tells investors in a research note. The firm also states that Sunrun’s forecast "importantly includes no incremental upside" baked in from the Inflation Reduction Act ITC bonus adders.