Sunrun (RUN)

Nov 16, 2022Trade Ideas

Solar stocks, like Sunrun (RUN) could see brighter days.

For one, analyst Corinne Blanchard initiated coverage of Enphase, Sunrun, and First Solar
with Buy ratings and 12-month price targets of $330, $36, and $180, respectively. Blanchard has confidence in the future of these stocks due to their exposure to the U.S. markets after the passing of the Inflation Reduction Act, as noted by Barron’s.

Remember, “The Inflation Reduction Act of 2022 invests in the technologies needed for all fuel types – from hydrogen, nuclear, renewables, fossil fuels and energy storage – to be produced and used in the cleanest way possible. It is truly all of the above, which means this bill does not arbitrarily shut off our abundant fossil fuels. It invests heavily in technologies to help us reduce our domestic methane and carbon emissions and also helps decarbonize around the world as we displace dirtier products.”

In addition, as noted by analyst Blanchard, “We initiate broadly on the Clean Tech industry, launching coverage on six solar companies, with a Bullish view supported by an acceleration in government support including the recently passed Inflation Reduction Act. This favorable regulatory environment and improving incentive support should help further boost demand for the solar industry.”

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