We recently published These 10 Stocks Just Lost Their Spark. Sunrun Inc. is one of the worst-performing companies on Thursday.
Shares of Sunrun dropped by 3.68 percent on Thursday to close at $9.96 apiece as investors unloaded portfolios amid the lack of catalysts to support a rally.
Thursday’s session marked the company’s second consecutive day of decline, suggesting that investors have already priced in optimistic comments from analysts recently.
Earlier this week, Sunrun Inc. earned an “overweight” rating and a higher price target of $16 from JPMorgan. The figure represented a 23-percent improvement from its $13 price target previously.
According to JPMorgan, the revision was based on its confidence about the solar firm’s leadership position in the underpenetrated residential energy services market, which it expects to grow by double digits.
A field of solar panels glistening in the afternoon sun, symbolizing the company’s renewable energy ambitions.
It also underscored the company’s strong revenue visibility from long-term customer contracts, alongside the potential for market share gains due to favorable Investment Tax Credit (ITC) rules.
Meanwhile, investment firm Mizuho also posted a bullish sentiment on shares of Sunrun Inc., raising its price target to $21 from $13 previously, while maintaining an “outperform” rating.
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This article is originally published at Insider Monkey.
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