Jefferies analyst Julien Dumoulin-Smith raised the firm’s price target on Sunrun to $31 from $26 and keeps a Buy rating on the shares following a change in analyst coverage. Management’s outlook on future cash generation was better than expected, driven by recent updates on investment tax credit adders, the analyst tells investors in a research note. The firm thinks “there could be more to come” than what is currently implied in the guidance.
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