Sunrun Receives Upgraded Rating from GLJ Research, Signaling Potential Growth
Fintel reports that on October 28, 2024, GLJ Research upgraded their outlook for Sunrun (LSE:0A4S) from Sell to Hold.
Analyst Price Target Indicates Significant Upside Potential
As of October 22, 2024, analysts have set an average one-year price target for Sunrun at 22.90 GBX/share. Targets vary from a low of 7.84 GBX to a high of 39.79 GBX. This average reflects a possible increase of 57.92% from its most recent closing price of 14.50 GBX/share.
Projected Revenue Grows Amidst Market Reactions
For the coming year, Sunrun’s projected annual revenue stands at 2,691 MM, indicating a robust increase of 30.52%. Nevertheless, the projections suggest a non-GAAP EPS of -0.00.
Fund Sentiment Reflects Growing Interest
Currently, 766 funds and institutions hold positions in Sunrun, marking an increase of 17 owners—or 2.27%—in the last quarter. The average portfolio weight dedicated to 0A4S has grown to 0.21%, a rise of 10.31%. Institutional ownership increased by 8.97% over the past three months, totaling 269,863K shares.
Grantham, Mayo, Van Otterloo & Co. commands 16,311K shares, reflecting 7.30% ownership of the company, which is an increase from 14,626K shares previously—an uptick of 10.33%. However, the firm reduced its portfolio allocation in 0A4S by 6.74% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF now owns 14,335K shares, representing 6.41% ownership, an impressive increase from owning 0K shares before—indicating a 100.00% change.
Orbis Allan Gray holds 13,896K shares, showcasing 6.22% ownership; however, this is a slight decrease from the earlier reported 14,231K shares, reflecting a 2.42% drop in ownership. The firm also reduced its portfolio allocation in 0A4S by 32.49% over the last quarter.
Greenvale Capital LLP has increased its holdings to 11,750K shares, representing 5.26% ownership—up from 9,750K shares, or a 17.02% rise, though with a decreased portfolio allocation of 11.21%.
Alyeska Investment Group stands out with 7,614K shares, reflecting 3.41% ownership, up significantly from 1,400K shares, marking an increase of 81.62%. This equates to a whopping 354.71% rise in their portfolio allocation in 0A4S over the last quarter.
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This story originally appeared on Fintel.
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