RBC Capital Markets upgraded Sunrun Inc. to Outperform from Sector Perform and raised its price target from $12 to $16. The upgrade reflects RBC’s increased confidence in Sunrun’s long-term opportunities, primarily driven by clearer U.S. Treasury guidance regarding federal solar tax credits.
This positive analyst action comes after a period of significant policy uncertainty that had impacted the solar sector. The clarified guidance from the Treasury Department is seen as reducing a major regulatory risk that had been weighing on Sunrun's valuation and future prospects.
The upgrade suggests that Sunrun is well-positioned to capitalize on these more certain policy conditions, further strengthening its market leadership in residential solar and storage. This development is expected to contribute to a more favorable investment outlook for the company.
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