Morgan Stanley says Sunrun is ‘most compelling clean energy stock,’ sees shares doubling

CNBC2021-06-17

Shares of Sunrun jumped more than 10% on Wednesday after Morgan Stanley reiterated its overweight rating on the company, calling it “the most compelling clean energy stock” across the firm’s coverage....

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Comments

HuiHong
2021-06-17
HuiHong
nice
mutualtrader
2021-06-17
mutualtrader
Very good news instead!
Mich77
2021-06-17
Mich77
liked
Joru
2021-06-17
Joru
Please respond to my comment
Joru
2021-06-17
Joru
Please respond to my comment
cheekeong
2021-06-17
cheekeong
nice

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Consumer demand for reliability — especially as Texas and California’s grids come under pressure — should also drive adoption.\n“Sunrun is a beneficiary of several megatrends: rising utility costs and falling clean energy and storage costs, grid reliability impacts from climate change and consumer demand for clean energy,” Byrd wrote.\nShares of Sunrun have dropped more than 50% since rising to an all-time intraday high of $100.93 on Jan. 12, and Morgan Stanley believes the company’s current valuation doesn’t accurately reflect the growth opportunity. Specifically, Byrd said the stock is pricing in roughly six years of operations and no customer growth thereafter “essentially meaning that the stock price suggests RUN will go out of business in 6 years,” he said.\nThe firm added that the company, which is the largest residential solar installer in the U.S., generates stronger cash flows than consumers appreciate, and pointed to the large total addressable market. Currently around just 3% of houses across the U.S. sport solar panels.\nBroader adoption of electric vehicles is another upside driver for Sunrun, with Morgan Stanley estimating that this could “create a much value for RUN as RUN’s entire current business.”\nIn May the company announced a partnership with Ford, whereby the company’s F-150 Lightning pickup truck will offer an at-home EV charger and an inverter. The truck could then power critical products and potentially an entire home should there be a grid outage. 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good news instead!","listText":"Very good news instead!","text":"Very good news instead!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163733867","repostId":1166692878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163730220,"gmtCreate":1623892963160,"gmtModify":1703822716256,"author":{"id":"3581849551321020","authorId":"3581849551321020","name":"Mich77","avatar":"https://static.tigerbbs.com/e68e0beedd6e067e59c605653c639699","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3581849551321020","idStr":"3581849551321020"},"htmlText":"liked","listText":"liked","text":"liked","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163730220","repostId":1166692878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163441941,"gmtCreate":1623892152683,"gmtModify":1703822661837,"author":{"id":"3586684657162382","authorId":"3586684657162382","name":"Joru","avatar":"https://static.tigerbbs.com/fd39d71a61b37da83d9d23a2f010aaae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3586684657162382","idStr":"3586684657162382"},"htmlText":"Please 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