Sunrun, a San Francisco-based residential solar panel and home battery company, has received one analyst upgrade after another in recent months. Goldman Sachs calls Sunrun a “bellwether” solar company and raised its rating on the company to “buy” from “neutral” with a price target of $70 per share.
At its current share price of just over $52, RUN stock is under 50% lower than its 52-week high of $100.93 and looking mighty cheap. The stock’s decline was primarily due to supply issues that the company has since resolved.
While Sunrun remains unprofitable, it reported a narrower Q1 loss and has raised its full-year guidance for 2021. The company reported a net loss of $23.8 million, a marked improvement from a year earlier loss of $28 million. First-quarter revenue totaled $334.8 million, up 59% from a year ago. Sunrun increased its guidance to range between 25% to 30% for the entire year, up from earlier expectations of 20% to 25% growth.
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