After finding strong support, Sunrun (RUN) is on the move.
From a current price of $27.35, if it can break above $30 resistance it could potentially test $34 shortly after. Helping, analysts are becoming far more bullish on solar with the Inflation Reduction Act, and a greater push toward a greener future. In fact, in early January, Wells Fargo upgraded the RUN stock to overweight with a $32 price target.
“The passage of IRA should drive accelerated adoption of solar and hydrogen in the U.S. for the next decade,” said the analysts, as quoted by Barron’s.
We’ll get a better view of RUN when it posts Q4 and full-year 2022 earnings on Wednesday, February 22, 2023 after the market closes.