Diamond Member Pelican Press 0 Posted May 9, 2024 Diamond Member Share Posted May 9, 2024 Goldman sees 50% upside from here for Sunrun following results Goldman Sachs says Sunrun shares are poised for a big increase after being on a downward trend all year. The residential solar company on Wednesday reported mixed first-quarter results . Revenue of $458 million missed analyst expectations of $471 million, according to FactSet. However, solar and storage installations for the quarter each exceeded the high end of Sunrun’s respective guidance ranges. “RUN continues to expect a 1Q24 trough with an inflection in 2H24,” Goldman Sachs analyst Brian Lee wrote in a note on Thursday. “We view the shift towards more profitable growth as a prudent change as management reiterated its cash generation guidance of achieving a $200mn-$500mn annualized run rate by 4Q24 despite the lower solar installations.” Goldman reiterated its buy rating on the shares and $18 price target, implying more than 50% upside from Wednesday’s closing price. Sunrun shares are down about 42% for the year. RUN YTD mountain Sunrun shares are down 41% in 2024 — CNBC’s Michael Bloom contributed reporting. This is the hidden content, please Sign In or Sign Up Cryptocurrency,Investment strategy,Breaking News: Investing,Markets,Stock markets,Sunrun Inc,Goldman Sachs Group Inc,Earnings,business news #Goldman #sees #upside #Sunrun #results This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/29122-goldman-sees-50-upside-from-here-for-sunrun-following-results/ Share on other sites More sharing options...
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