Merrill Lynch Sticks to Their Buy Rating for Sunrun (RUN)

By Carrie Williams

In a report released today, Julien Dumoulin Smith from Merrill Lynch maintained a Buy rating on Sunrun (NASDAQ: RUN), with a price target of $16.50. The company’s shares opened today at $12.02.

According to TipRanks.com, Smith is a 4-star analyst with an average return of 4.7% and a 63.0% success rate. Smith covers the Utilities sector, focusing on stocks such as American Electric Power, Dominion Resources, and Eversource Energy.

Sunrun has an analyst consensus of Moderate Buy, with a price target consensus of $18.33.

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Based on Sunrun’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.41 million. In comparison, last year the company had a net profit of $27.78 million.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RUN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SunRun, Inc. operates as a residential solar, storage and energy services company. The firm designs, installs, finances, insures, monitors and maintains the systems of solar energy. It also offers a home solar battery service, Brightbox, that manages household solar energy, storage and utility power with smart inverter technology.