Barclays lowered the firm’s price target on Sunrun (RUN) to $15 from $18 and keeps an Equal Weight rating on the shares as part of a Q4 earnings preview. The firm does not expect changes to the company’s cash generation outlook, but does anticipate more discussion around the mitigation measures it can both do in the face of potential changes to the Inflation Reduction Act. Barclays reduced cash generation estimates for Sunrun. Given the California fires, the uncertain regulatory outlook, the potential need to safe harbor and a more focused approach to margin and cash generation, it reduced volumes and capital expenditure estimates.
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