Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 10:0009/2809/28/22
NFLX, BIIB, ILMN, SHOO, SSB, TFC, LMT, LHX, CSX, ETRN, AVNT, RUN, IE, GNRC, SABR, ENVX
Northland starts Sunrun at Outperform, sees chance to add in recent pullback » 06:5209/2809/28/22
Northland analyst Abhishek Sinha initiated coverage of Sunrun with an Outperform rating and $60 price target, calling it a "high-quality business with very strong and dependable cash flows." The multi-channel business is "ready to burgeon" driven by growing solar demand supported by the Inflation Reduction Act, Sinha tells investors. A recent pullback in the market provides a "great opportunity" for investors seeking residential solar market exposure but had missed the stock run that followed the passage of the IRA bill, Sinha added.
Sunrun initiated with an Outperform at Northland » 06:4809/2809/28/22
Northland analyst Abhishek Sinha initiated coverage of Sunrun with an Outperform rating and $60 price target.
Sunrun put volume heavy and directionally bearish » 12:1509/2309/23/22
Bearish flow noted in…
Bearish flow noted in Sunrun with 8,262 puts trading, or 4x expected. Most active are Dec-22 17.5 puts and Oct-22 30 puts, with total volume in those strikes near 4,600 contracts. The Put/Call Ratio is 3.08, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 3rd.
|Over a week ago|
Sunrun put volume heavy and directionally bearish » 13:3509/2209/22/22
Bearish flow noted in…
Bearish flow noted in Sunrun with 3,316 puts trading, or 1.2x expected. Most active are Oct-22 32.5 puts and Nov-22 25 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 1.65, while ATM IV is up over 1 point on the day. Earnings are expected on November 3rd.
CEO of Sunrun joined the President to celebrate Inflation Reduction Act passage » 16:2809/1309/13/22
Mary Powell, CEO of…
Mary Powell, CEO of Sunrun joined President Joe Biden at The White House to celebrate the passage of the historic Inflation Reduction Act , which invests $369B billion to fight climate change. During her visit, Powell spoke alongside other industry leaders, where she discussed the importance of clean home-based energy systems to fortify the nation's grid and more affordably and resiliently respond to climate change. She also addressed the impact the IRA will have on the growing demand for rooftop solar, battery storage and electric vehicles as extreme weather threatens the grid and home electricity rates surge to nearly 16% higher than last year. Powell highlighted how Americans can find relief from inflation by taking advantage of programs and incentives in the IRA to switch to cleaner, cheaper solar energy, home heating, cooking, and vehicle technology, which can save households up to $1,800 per year"We are seeing an unprecedented rise in energy inflation, wildfires, heat waves and freezing temperatures, and they are all creating demand for rooftop solar and battery storage," Powell said. "I applaud the passage of the Inflation Reduction Act because it drastically increases access to clean, reliable, and, in particular, affordable sources of energy. American families can now take advantage of new tax incentives for home solar, batteries, heating, electric vehicles and so much more. It's a huge win for the American people."
Sunrun put volume heavy and directionally bearish » 10:5509/1209/12/22
Bearish flow noted in…
Bearish flow noted in Sunrun with 4,650 puts trading, or 2x expected. Most active are Oct-22 30 puts and Oct-22 32.5 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 2.05, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 3rd.
Sunrun delivers over 80 MW of stored solar energy capacity to California Grid » 08:0908/3008/30/22
Sunrun announced that it…
Sunrun announced that it delivers more than 80 megawatts of stored solar energy capacity from customer batteries to the state's electric grid daily to reduce strain and improve energy resilience for all Californians. This is significantly larger than California's controversial Ellwood gas-fired peaker plant, as well as several other highly polluting peaker plants across the state. Sunrun's customers collectively support California's grid every day by providing additional energy capacity during times of peak demand. During just one recent event, more than 17,000 Sunrun customers made available over 80 MW of stored energy capacity during the standard Time of Use window - a 60% increase in capacity over the previous year - which supports the overall health of California's electric grid with clean solar energy every day.
|Over a month ago|
Sunrun price target raised to $79 from $70 at Morgan Stanley » 07:5208/1808/18/22
Morgan Stanley analyst…
Morgan Stanley analyst Stephen Byrd raised the firm's price target on Sunrun to $79 from $70 and keeps an Overweight rating on the shares. The analyst increased growth rates for solar, wind, energy storage, and clean hydrogen, and raised price targets on many clean tech stocks, due to the clean energy support featured in the new Inflation Reduction Act legislation. The bill recently passed by Congress and signed by President Biden will accelerate the decarbonization of the U.S. economy, lead to significant increased domestic manufacturing, and provide the necessary support to jump-start decarbonization technologies that are on the cusp of being commercially viable, Byrd tells investors in a research note.
California judge proposes one-year delay in net energy metering tariff deadline » 13:2108/1508/15/22
RUN, NOVA, SPWR
A California ALJ judge…
A California ALJ judge has proposed to extended the statutory deadline in the proceeding for Rulemaking 20-08-020 to develop a successor tariff to the net energy metering tariff until August 27, 2023, according to a post to the site of the California Public Utilities Commission. Companies that may be impacted include Sunrun (RUN), Sunnova Energy (NOVA) and SunPower (SPWR). Reference Link