Sunrun (RUN) Rallies 6.76% on Bullish Rating

Sunrun Inc. (NASDAQ:RUN) is one of the 10 Stocks Going Wild.

Sunrun bounced back on Wednesday from the previous day’s losses, jumping 6.76 percent to close at $10.51 as investors took heart from an investment firm’s upgraded rating on its stock.

In a market report, Jefferies raised its stock rating for Sunrun Inc. (NASDAQ:RUN) to “hold” from “underperform” previously, while setting a price target of $11, more than double the $5 prior. The new price target represented a 4.66 percent upside from its latest closing price.

According to Jefferies, its upward revision was based on the approval of the One Big Beautiful Bill Act, which maintained solar credits through 2027 and storage through 2035 after previously seeking to axe such credits.

Meanwhile, consumer credit 25D is set to expire by year-end, which Jefferies expects  Sunrun Inc. (NASDAQ:RUN) to benefit from on expectations of more lease and power purchase agreements.

Jefferies, however, remained cautious about the US residential solar market in general, projecting it to decline by double digits by next year as the 25D expiration takes effect.

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Disclosure: None. This article is originally published at Insider Monkey.