Are you looking to invest in a company with high growth potential? According to Goldman Sachs, Sunrun shares are poised for a big increase after being on a downward trend all year. The residential solar company recently reported mixed first-quarter results, with revenue slightly missing analyst expectations but solar and storage installations exceeding guidance ranges.
Goldman Sachs analyst Brian Lee believes that Sunrun is expecting a trough in the first quarter of 2024 with an inflection point in the second half of the year. The company is shifting towards more profitable growth and aims to achieve a cash generation of $200 million to $500 million by the fourth quarter of 2024, despite lower solar installations.
With a buy rating and a price target of $18, Goldman Sachs is predicting over 50% upside potential from the current share price. While Sunrun shares have been down about 42% for the year, there is optimism for a turnaround in the near future.
At Extreme Investor Network, we believe that Sunrun’s strategic shift towards profitability and long-term growth makes it an attractive investment opportunity. With the renewable energy sector gaining momentum, Sunrun could be well-positioned for success in the coming years. Stay updated with the latest market trends and investment opportunities by joining our network of extreme investors.
