Sunrun (SUN) Shines 7.6% Brighter as Analyst Triggers ‘Buy’ Reco

We recently published 10 Stocks on a Hot Streak. Sunrun Inc. (NASDAQ:SUN) is one of the best-performing stocks on Tuesday.

Sunrun rallied for a second day on Tuesday, jumping 7.63 percent to close at $19.75 apiece as investors took path from an investment firm’s bullish comment and recommendation for its stock.

In a market note on Monday, Guggenheim Securities upgraded Sunrun Inc. (NASDAQ:SUN) to “buy” from “neutral,” with a $27 price target, marking a 36.7 percent upside potential from its latest closing price.

The revision was based on solid growth prospects for next year, alongside the stock’s recent weakness, which has provided an attractive entry point for investors.

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Additionally, Guggenheim believed that Sunrun Inc. (NASDAQ:SUN) has effectively managed its business in a profoundly challenged industry, having swung to profitability in the third quarter of the year.

During the period, Sunrun Inc. (NASDAQ:SUN) incurred a net income attributable to shareholders of $16.5 million, reversing a $83.8 million attributable net loss in the same period last year.

Total revenues increased by 34.8 percent to $724 million from $537 million year-on-year, on the back of higher revenues from customer agreements and incentives, as well as solar energy systems and product sales.

While we acknowledge the risk and potential of SUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SUN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.