Shares of Sunrun (NASDAQ: RUN) surged over 23% so far in today’s trading session. This can be attributed to California regulators releasing a new proposal to reform its rooftop solar subsidy.
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The new proposal is meant to optimize grid use and help California meet its climate goals and increase reliability. It’s also aimed at promoting affordability for poor and middle-class residents.
Is RUN a Good Stock to Buy?
RUN stock has a Strong Buy consensus rating based on 11 Buys, one Hold, and zero Sells assigned in the past three months. The average RUN stock price target of $49.82 implies 64.69% upside potential.
Other tickers that are surging include:
- SunPower (NASDAQ: SPWR)
- Enphase (NASDAQ: ENPH)
- Invesco Solar ETF (TAN)
- SolarEdge Technologies (NASDAQ: SEDG)
