SolarBank Corp (SUNN) Rated as a 'Buy' at D. Boral Capital on Recurring Revenue Growth Prospects

SolarBank Corporation (NASDAQ:SUUN) is one of the best green energy penny stocks to buy right now. On July 8, D. Boral Capital initiated coverage of the stock with a ‘Buy’ rating and a$4 price target. The firm has echoed the company’s transition from an engineering and construction model to one that incorporates asset ownership.

Consequently, the research firm expects the transition to trigger a significant increase in the company’s recurring revenue. It expects growth beyond the 32MW in power capacity that generated $9.2M in the last 12 months. D. Boral Capital is optimistic that the company will reach over $100 million in recurring revenue by 2030 as it continues to develop, own, and operate solar photovoltaic farms and battery energy storage systems.

Boral Capital expects a significant upside following SolarBank’s acquisition of Solar Flow, which ended up adding 70 contracted solar assets, generating significant recurring revenue. In addition, the firm insists that the company is well-capitalized for expansion, given its $190 million in total assets and a strong, diversified project pipeline.

SolarBank Corporation (NASDAQ:SUUN) develops, owns, and operates renewable and clean energy projects. It primarily focuses on solar power. It sells clean energy to utilities, commercial, industrial, municipal, and residential customers.

While we acknowledge the potential of SUUN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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