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Sunrun upgraded at BofA Merrill as post-earnings selloff overdone

Published 08/13/2018, 03:43 PM
© Reuters.  Sunrun upgraded at BofA Merrill as post-earnings selloff overdone
RUN
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  • Sunrun (RUN -0.8%) drifts lower despite receiving an upgrade to Neutral from Underperform with a $16 price target at BofA Merrill Lynch, which says the stock's selloff after mixed Q2 results and disappointing Q3 guidance was an overreaction.
  • RUN's deployment guidance of 213 MW for H2 2018 implies a 21% Y/Y growth rate, while a 15% growth rate is the minimum required for the stock to see any upside, according to BAML analyst Julien Dumoulin-Smith.
  • RUN still faces "sizable execution risk" in achieving its Q3 guidance and "slight" cost reduction guidance for 2019, the analyst says.
  • Now read: Hanwha Q CELLS Co., Ltd. 2018 Q2 - Results - Earnings Call Slides


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