Sunrun's Mixed Q2 Outcomes: KeyBanc Revises Price Target Amid Challenges And Steady Customer Growth Prospects
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Sophie Karp has reiterated the Overweight rating on Sunrun Inc. (NASDAQ:RUN), but lowered the price target from $27 to $24. This follows Sunrun's mixed Q2 results, with revenue missing estimates but earnings beating them. Despite satisfactory customer growth, Sunrun's revenues and cash flow generation were lower due to a gradual recovery in CA demand and post-inflationary working capital hangover. The company is sticking to its original 2023 guidance, leading the analyst to pare back 2023 estimates.

August 17, 2023 | 6:55 pm
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Sunrun's mixed Q2 results and lower revenues/cash flow generation have led KeyBanc to lower its price target for the company. However, Sunrun's satisfactory customer growth and unchanged long-term fundamentals could provide some stability.
The lowering of the price target by KeyBanc indicates a less optimistic outlook for Sunrun's stock in the short term. This is primarily due to the company's mixed Q2 results and lower revenues/cash flow generation. However, the company's satisfactory customer growth and unchanged long-term fundamentals could provide some stability for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100