Fintel reports that on August 30, 2023, Citigroup upgraded their outlook for Sunrun (NASDAQ:RUN) from Neutral to Buy.

Analyst Price Forecast Suggests 122.94% Upside

As of August 2, 2023, the average one-year price target for Sunrun is 34.40. The forecasts range from a low of 12.87 to a high of $63.00. The average price target represents an increase of 122.94% from its latest reported closing price of 15.43.

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The projected annual revenue for Sunrun is 2,514MM, an increase of 3.84%. The projected annual non-GAAP EPS is 0.10.

What is the Fund Sentiment?

There are 756 funds or institutions reporting positions in Sunrun. This is a decrease of 61 owner(s) or 7.47% in the last quarter. Average portfolio weight of all funds dedicated to RUN is 0.19%, a decrease of 13.60%. Total shares owned by institutions increased in the last three months by 0.05% to 216,593K shares. The put/call ratio of RUN is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

Orbis Allan Gray holds 13,997K shares representing 6.44% ownership of the company. In it’s prior filing, the firm reported owning 13,169K shares, representing an increase of 5.92%. The firm decreased its portfolio allocation in RUN by 15.67% over the last quarter.

Grantham, Mayo, Van Otterloo & Co. holds 10,433K shares representing 4.80% ownership of the company. In it’s prior filing, the firm reported owning 11,514K shares, representing a decrease of 10.36%. The firm decreased its portfolio allocation in RUN by 26.90% over the last quarter.

BNP Paribas Asset Management Holding holds 10,269K shares representing 4.73% ownership of the company. In it’s prior filing, the firm reported owning 8,404K shares, representing an increase of 18.17%. The firm increased its portfolio allocation in RUN by 66.14% over the last quarter.

Invesco holds 6,721K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 6,812K shares, representing a decrease of 1.34%. The firm increased its portfolio allocation in RUN by 787.95% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 6,541K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 6,574K shares, representing a decrease of 0.52%. The firm decreased its portfolio allocation in RUN by 15.53% over the last quarter.

Sunrun Background Information
(This description is provided by the company.)

Sunrun, is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources.

This article originally appeared on Fintel