Sunrun price target lowered to $14 from $17 at RBC Capital

RBC Capital analyst Christopher Dendrinos lowered the firm’s price target on Sunrun (RUN) to $14 from $17 and keeps an Outperform rating on the shares after its Q4 results. The company has a strong balance sheet that provides it optionality to manage an uncertain macro environment, but this is taking its toll and as a result the customer growth and cash generation outlooks were both reduced, the analyst tells investors in a research note. RBC is adjusting its model and believes that in the current environment, Sunrun should be valued more as a value play and on its cash generating capabilities, the firm adds.