FMP

FMP

Enter

KeyBanc Cuts Sunrun to Sector Weight

-

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Analyst at KeyBanc downgraded Sunrun (NASDAQ:RUN) from Overweight to Sector Weight following a recent rebound in valuation for Sunrun and Sunnova, noting that both stocks were out of favor for most of 2023 due to the impact of interest rates on their valuations.

As businesses driven by discounted cash flow (DCF) valuations, Sunrun and Sunnova are particularly sensitive to interest rate changes, essentially acting as proxies for declining rates. Following a shift in the Federal Reserve's stance, both companies experienced a modest recovery from their lows.

The analysts observe that after this correction, Sunrun now trades closer to its net asset value (NAV), which also aligns with their price target, compared to Sunnova. In light of a generally negative outlook on the sector, KeyBanc prefers to maintain Sunnova as its only Overweight in the space, citing a greater margin of safety. Consequently, Sunrun has been downgraded to Sector Weight at this time.

Other Blogs

May 14, 2024 3:41 PM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 1:30 PM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 7:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep