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Why Sunrun Jumped More Than 10% Today

TheMotleyFool

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Shares of residential solar, battery-storage, and energy-services company Sunrun (NASDAQ: RUN) jumped double digits Friday after an analyst said the stock is a buy. This was in response to a 25% drop since the start of 2021. As of 1:50 p.m. EDT, shares in Sunrun were up 10.3% on the day.

Investors have spent much of the start of 2021 rotating away from more speculative, high-growth stocks like solar power company Sunrun. But Piper Sandler analyst Kashy Harrison thinks the retrenchment has gone far enough and upgraded Sunrun to the equivalent of a buy rating today. The firm assigned Sunrun shares a price target of $77, representing 63% upside from Thursday's closing price, as reported by Barron's.

Source Fool.com

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