These Analysts Revise Their Forecasts On Sunrun After Q2 Results
Portfolio Pulse from Avi Kapoor
Sunrun Inc. (NASDAQ:RUN) reported better-than-expected Q2 results and announced a partnership with Tesla to support Texas’s power grid. The company reported Q2 revenue of $523.866 million, beating estimates of $515.167 million, and earnings of 55 cents per share, beating estimates for a loss of 31 cents per share. Sunrun shares rose 17% to $19.30. Several analysts revised their price targets for Sunrun following the earnings announcement.
August 07, 2024 | 4:07 pm
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Sunrun reported better-than-expected Q2 results with revenue of $523.866 million and earnings of 55 cents per share. The company also announced a partnership with Tesla to support Texas’s power grid. Following the news, Sunrun shares rose 17% to $19.30, and several analysts revised their price targets upwards.
Sunrun's better-than-expected Q2 results and new partnership with Tesla are significant positive developments. The strong financial performance and strategic partnership are likely to boost investor confidence, leading to a short-term increase in the stock price. The upward revisions in price targets by multiple analysts further support this positive outlook.
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