Sunrun Inc RUN is experiencing another surge in positive sentiment from Wall Street, with the latest catalyst coming Monday morning. RBC Capital upgraded the residential solar company’s stock from Sector Perform to Outperform, raising its price target to $16 from $12.

What To Know: This follows a series of bullish analyst actions in recent weeks. Notably, late last week, Wells Fargo reiterated its Overweight rating while nearly doubling its price target from $8 to $14, causing the stock to soar.

Other firms, including UBS and JP Morgan, have also recently increased their price targets, signaling growing confidence in the company's trajectory.

The renewed optimism is largely fueled by a blockbuster second-quarter earnings report. Sunrun shattered expectations by posting a surprise profit of $1.07 per share, decisively beating the consensus estimate for a loss of 18 cents.

Revenue also came in strong at $569.33 million, reflecting robust operational momentum. The company reported record storage growth and a significant 15% year-over-year increase in new subscriber additions, underscoring its market leadership.

Further bolstering the positive outlook, Sunrun recently unveiled a strategic partnership with Tesla Inc. The collaboration aims to provide predictable electricity bills for consumers in the Texas market by pairing Tesla Powerwall energy storage systems with Sunrun's solar offerings.

Benzinga Edge Rankings: According to Benzinga Edge Rankings, Sunrun displays a mixed but intriguing profile for investors. The stock scores very highly on Value with a rating of 83.96, suggesting it may be attractively priced compared to its intrinsic worth or industry peers. It also shows strong Momentum, scoring 71.99, which indicates positive recent price performance and investor interest is high.

In contrast, its Growth score is notably low at 19.38, pointing to potential concerns or underperformance in its growth metrics like revenue or earnings expansion.

Price Action: According to data from Benzinga Pro, RUN shares are trading higher by 10.67% to $13.97 Monday morning. The stock is now higher by 29% over the trailing five sessions. The stock has a 52-week high of $22.23 and a 52-week low of $5.38.

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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Sunrun’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.