Shares of Sunrun (RUN) are surging 7.76% in pre-market trading on Monday, following a significant upgrade from Guggenheim. The solar energy company's stock is reacting positively to the change in analyst sentiment, which could signal improved prospects for the firm.
Guggenheim analyst Joseph Osha has upgraded Sunrun from Neutral to Buy, setting a price target of $27. This bullish stance represents a notable shift in the firm's outlook on Sunrun's potential, likely contributing to the substantial pre-market rally. The upgrade suggests that Guggenheim sees enhanced value or growth opportunities for Sunrun in the near future.
While Guggenheim's upgrade is driving the stock's momentum, it's worth noting that not all analysts share the same optimism. In a separate report, Barclays maintained its Hold rating on Sunrun with a price target of $23. This divergence in analyst opinions highlights the complex landscape of the solar energy sector and the varying perspectives on Sunrun's position within it. Investors will be closely watching how these conflicting views play out in the market as trading begins for the week.