Sunrun $RUN stock closed up 4% on September 8, 2022, after Goldman Sachs pumped the entire solar power sector.
Goldman Sachs Bullish On Solar Sector After The Inflation Reduction Act
On September 8, 2022, Goldman Sachs released a research report that notes how the Inflation Reduction Act has been a major catalystA stock catalyst is an engine that will drive your stock either up or down. A catalyst could be news of a new contract, SEC filings, earnings and revenue beats, merger and acquisit... for solar stocks, as it’s expected to increase demand for several clean energy sources. Goldman Sachs believes the major upside drivers of the new policy include more significant medium-to-longer term demand growth owing to the extension of tax credits and higher returns stemming from manufacturing incentives. “Simply put, we see stocks with U.S. leverage and US-based manufacturing as fundamentally best positioned … with ~40% return potential remaining across our Buy rated ideas,” the firm wrote in a note to clients. Of all the solar stocks Goldman Sachs had a Buy rating on, Sunrun Inc (NASDAQ: RUN) and Array Technologies Inc (NASDAQ: ARRY) offered the most upside from current levels, according to Goldman analysts.
Sunrun price target raised to $79 from $70 at Morgan Stanley
On August 18, 2022, Morgan Stanley analyst Stephen Byrd raised the firm’s price target on Sunrun to $79 from $70 and kept an Overweight rating on the shares. The analyst increased growth rates for solar, wind, energy storage, and clean hydrogen and raised price targets on many cleantech stocks due to the clean energy support featured in the new Inflation Reduction Act legislation. The bill passed by Congress and signed by President Biden will accelerate the decarbonization of the U.S. economy, lead to significant increased domestic manufacturing, and provide the necessary support to jump-start decarbonization technologies that are on the cusp of being commercially viable, Byrd tells investors in a research note.
Sunrun price target raised to $65 from $52 at JPMorgan
On August 8, 2022, JPMorgan analyst Mark Strouse raised the firm’s price target on Sunrun to $65 from $52 and kept an Overweight rating on the shares. The analyst views the Inflation Reduction Act as the most significant policy change in U.S. history to accelerate growth in an “already inevitable energy transition to renewables.” While changes are still possible as the bill proceeds to the House of Representatives, investor expectations for the industry will “appreciate materially with the passage of the more evenly divided Senate,” Strouse tells investors in a research note. Although alternative energy stocks have risen since the initial news of the bill, there is further upside for most companies in the space, says the analyst. He thinks companies with existing domestic manufacturing as the most immediate beneficiaries.
Bullish Option Flow Detected In Sunrun $RUN Stock
Guerilla Stock Trading has detected bullish option flow in $RUN stock.
Make sure to review this lesson on option flow so that you understand the image above.
Sunrun $RUN Dark Pool Trades Detected
Guerilla Stock Trading has detected dark pool trades in Sunrun $RUN stock over the last few weeks.
The dark pool trades look like buy orders because $RUN stock went up following the dark pool orders.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
📺 Sunrun Celebrates 15 Years, 700,000 customers, and 5 Gigawatts of installed solar!
📈 Sunrun $RUN Chart Technical Analysis
Sunrun $RUN stock is in a technical strong uptrend rating. The chart pattern is a giant sideways consolidation channel breakout.