Shares of Sunrun (RUN, Financial) have received a new rating from Wall Street; the twenty-two research firms covering the company provide it with a ‘Hold’ consensus rating. Of those, one analyst has given the stock a sell’ rating, ten have stayed with a hold’ rating, and eleven have given the stock a buy’ rating. The Wall Street 12-month target price average for Sunrun is $19.28.
In recent weeks, analysts have increasingly changed their views on the company. According to Reuters data, its debt-to-revenue ratio is 9.63 compared to the average of 3.5 as of November 15. On November 8, BNP Paribas downgraded the stock from outperform to neutral and set a price target of $14.00. On November 22, Piper Sandler lowered its rating from overweight to neutral and its price target from $23.00 to $11.00. Jefferies Financial Group cut the price target for the stock to $29.00 from $31.00 but maintained a ‘buy’ rating. Oppenheimer cut their target from $22.00 to $20.00 and kept an outperform rating. In a report, Guggenheim also cut the stock from “buy” to “neutral” on November 7.
Despite these changes, Sunrun is on hold with an overall “buy” consensus rating, but analysts’ forecasts may be a bit worried about its near-term growth potential.
This article first appeared on GuruFocus.
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