Sunrun (RUN) shares soared 5.46% in the intraday trading session on Tuesday, following an analyst upgrade from Exane BNP Paribas. The investment bank raised its rating on the residential solar company from Neutral to Outperform, setting a price target of $16.
According to the analyst report, the upgrade was driven by Sunrun's strong growth prospects and favorable industry tailwinds. The residential solar market is expected to continue expanding, fueled by rising consumer demand for clean energy solutions and supportive government policies.
With its leading market position and innovative business model, Sunrun is well-positioned to capture a significant share of this growing market. The analyst cited the company's successful execution, solid financials, and promising new product offerings as key factors supporting the bullish outlook.
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