Sunrun price target lowered to $12 from $18 at Truist

Truist lowered the firm’s price target on Sunrun (RUN) to $12 from $18 and keeps a Hold rating on the shares after its Q3 earnings miss. The residential installer group looks to transition toward a more consistent and predictable cash generation model, and the company’s Q3 volumes recovered “nicely”, but Sunrun is still early in the cash-gen story amidst a less certain policy backdrop, even though a full-scale Inflation Reduction Act repeal is “highly unlikely”, the analyst tells investors in a research note.