Sunrun price target lowered to $6 from $7 at Jefferies

Jefferies analyst Julien Dumoulin-Smith lowered the firm’s price target on Sunrun (RUN) to $6 from $7 and keeps a Hold rating on the shares. The firm is “holding the line” ahead of anticipated softening on IRA from the Senate, but believes the main question will be whether the Senate unwinds the cut-off on residential leases beginning in 2026. Assuming the Senate delivers, the firm sees a pathway to extend the ITC runway “via a robust safe harbor strategy that we believe RUN is uniquely well-equipped to pull off,” but advises investors to be on watch for near-term updates on IRA revisions and expects continued volatility.