Sunrun price target lowered to $34 from $42 at RBC Capital

RBC Capital lowered the firm’s price target on Sunrun (RUN) to $34 from $42 but keeps an Outperform rating on the shares. The analyst is updating the firm’s model after the recent selloff but believes that the price decline is "overdone" given the company’s "solid" Q4 results and 2023 installed capacity growth that is generally in line with expectations. Sunrun exposure to Silicon Valley Bank (SIVB) and Credit Suisse (CS) also looks to be manageable as Sunrun has a diversified list of lenders which should provide it with access to capital, RBC added.