Sunrun Inc. (NASDAQ:RUN) shares are trading higher after Wolfe Research initiated coverage on the stock with an Outperform rating.
JPMorgan also added the stock to its top ideas list and believes the stock could soar 90%.
Wolfe Research analyst noted 5 key investment catalysts:
- Market leader in rooftop solar
- Big TAM for rooftop solar
- Proliferation of batteries a big tailwind
- Upsides to net subscriber value
- Very customer focused
Sunrun provides homeowners with clean, affordable solar energy and storage. It engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States.
Sunrun's stock was trading about 5.5% higher at $46.68 on Tuesday at the time of publication. The stock has a 52-week high of $100.93 and a 52-week low of $37.42.