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Sunrun (RUN) stock could rise to $60
Sunrun (RUN) stock experienced a high of $60 in April 2021 after hitting a low in March 2020. Launched in 2007, Sunrun is a company that provides residential home batteries and solar panels. Sunrun’s stock is now at $44, which is roughly an 80% increase from its March 2020 low when its stocks dipped to $8.
However, economists at Forbes believe that Sunrun’s stock will continue to climb. Its stock is also up two times from the level it was at before the pandemic. While this growth alone is startling, Forbes has predicted that Sunrun could increase another 30% to its April 2021 height of $60. Why does Forbes think that Sunrun has such a sunny outlook?
The positive prediction is in part due to the fact that Sunrun has had an incredibly strong Q1 marked by exceptional growth. The likely growth of the stock is also due to the fact that demand is likely to increase. Awareness of the looming climate crisis is increasing around the US and many states are now offering tax incentives for consumers who make the switch to renewable forms of energy. Recent disruptions in the energy industry, including the crisis in Texas and continual issues with oil and gas delivery disruption, are likely also leading consumers to consider cleaner, more reliable alternatives. Finally, the home battery and solar panel technology has greatly increased in efficiency, innovation and durability since the company’s launch.
The Forbes economists have predicted that if Sunrun is able to minimise its expenses, the company’s demand and profit will very likely grow in the medium term.
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