Sunrun price target lowered to $9 from $12 at Truist

Truist analyst Jordan Levy lowered the firm’s price target on Sunrun (RUN) to $9 from $12 and keeps a Hold rating on the shares after its Q4 results. The company continues to execute well given the current market backdrop, but uncertainties surrounding renewables policy – and particularly IRA components impacting residential installer cash generation – are likely to remain an overhang over the coming quarters, the analyst tells investors in a research note. Investors continue to price in higher long-term interest rates and risk-weightings given policy uncertainty, the firm added.