Jefferies lowered its price target on Sunrun (NASDAQ: RUN) to $15 from $22, while maintaining a Hold rating.
The firm noted that the stock has declined approximately 30% since the company’s fourth-quarter 2025 results, reflecting investor concerns around volume growth and cash generation.
Jefferies indicated that fiscal 2026 may not represent a growth year for the company but expressed a constructive view on Sunrun’s disciplined operational approach amid increasing market uncertainty.
The firm expects the company to continue generating cash even in a lower-growth environment beyond 2026.
While estimates and the price target were revised downward ahead of first-quarter 2026 results, the changes were attributed primarily to broader market conditions rather than concerns about execution.
