#2 - Sunrun (NASDAQ:RUN)
One way you can tell that solar stocks are surging is with the number of solar panel installers being hired. And that’s a good reason to consider Sunrun (NASDAQ: RUN). The company bought Vivint Solar in 2020 in a deal that combined the two largest residential solar companies in the United States. Here’s where the bulls and the bears will spar.
The bears would say that even after the Vivint acquisition, the company’s market share is just 15%. And the company competes with private installers, which illustrates that there is a low barrier to entry. Bulls will argue that the Sunrun’s 15% market share is nearly double its nearest competitor and the company is showing strong year-over-year revenue growth.
RUN stock is down 37% in 2021 as investors are losing patience with the slow pace of the infrastructure bill moving through Congress. However, if you believe the analysts, this price drop can be a tremendous buy-the-dip opportunity. The consensus price target of near $80 would be nearly double RUN stock’s current price. And, Sunrun is on pace to easily outpace 2020 sales, a year in which the company saw sales skyrocket in the back end.
About Sunrun
Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.
Read More - Current Price
- $9.71
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $21.26 (119.0% Upside)
