What Happened?
Shares of residential solar energy company Sunrun (NASDAQ: RUN) jumped 3.6% in the afternoon session after the stock continued its recent positive momentum, building on significant gains from previous months. The session's rise was part of a broader trend that saw the stock climb nearly 13% over the previous month and a notable 99% over the previous 90 days. This run-up highlighted renewed optimism around the company's growth outlook. Investors appeared to be focusing on the recent positive performance, driving the stock higher despite its long-term total shareholder returns remaining negative over a five-year period.
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What Is The Market Telling Us
Sunrun’s shares are extremely volatile and have had 81 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 10 days ago when the stock gained 4.4% on the news that analysts at UBS and Citigroup provided favorable updates on the company. UBS raised its price target on Sunrun to $26 from $16 while keeping a "Buy" rating on the shares. Separately, Citigroup upgraded the stock to "Buy" from "Hold" and increased its price target to $26 from $11. In its note, Citi pointed to clearer government rules regarding solar tax credits. The bank believed this policy clarity, along with the approaching expiration of a federal tax credit for customer-owned systems, would speed up the shift toward solar systems owned by a third party. Sunrun is the market leader in this area, positioning it to benefit from this trend.
Sunrun is up 103% since the beginning of the year, and at $20.68 per share, it is trading close to its 52-week high of $21.29 from October 2025. Investors who bought $1,000 worth of Sunrun’s shares 5 years ago would now be looking at an investment worth $381.67.
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