Sunrun, Sunnova cut at Janney on uncertain solar demand, high operating expense [Seeking Alpha]
Sunrun Inc. (RUN)
NASDAQ:AMEX Investor Relations:
investors.sunrun.com/investor-overview
Company Research
Source: Seeking Alpha
Janney, which says U.S. residential solar demand is more uncertain than current expectations, and tailwinds of lower equipment costs and higher investment tax credit adders will be more subdued than previously expected. Janney had upgraded Sunrun ( RUN ) to Buy following Q2 2023 earnings on the premise that margins would improve at a faster pace than investors expected due to equipment cost declines, labor efficiency and ITC adders, but "we were wrong," analyst Thomas Meric says, "and while we remain bullish on margins moving higher, we are less confident in demand and furthermore, we think the stock will reflect this uncertainty." Regarding Sunnova ( NOVA ), Meric says investors are focused on potential dilution or liquidity impacts related to the company's strategy for its 2026 convertible notes, but he believes there is still a healthy amount of time to refinance or pay down the notes, and the company has $3.7B in customer notes receivable that could be monetized through an ass
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News
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RUN
Earnings
- 2/21/24 - Miss
RUN
Sec Filings
- 4/29/24 - Form DEF
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- RUN's page on the SEC website