Sunrun price target raised to $21 from $20 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Sunrun to $21 from $20 and keeps a Buy rating on the shares. The company reported mixed Q4 results, with revenue below expectations but solar MW installed in-line with guidance, the analyst tells investors in a research note. The firm says Sunrun guided 2024 solar installations to a range of down 5% to up 5%, likely exceeding expectations which had been trending more toward down 10%. It would appear California is picking up real momentum into Q1 based on sales originations – a positive development, says Goldman.