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First Solar, Inc. (NASDAQ:FSLR) and Sunrun Inc. (NASDAQ:RUN) shares are trading lower Monday following a failed assassination attempt on former President Donald Trump over the weekend.
The Details:
Shares of solar stocks are trading lower following the attempted assassination of Donald Trump, which has pressured stocks that could be impacted from a Trump presidency. As his popularity rises, investors view a second Trump term more likely which could be harmful to clean energy industries, including the solar energy sector.
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Despite the weekend's developments, Susquehanna analyst Biju Perincheril maintained Sunrun with a Positive rating and raised the price target from $23 to $24 on Monday.
Investors will be looking for potential forward-looking guidance with the companies' upcoming earnings results. Sunrun will report its second-quarter results after the closing bell on Aug. 6, and First Solar is set to report after the market close on July 30.
When trying to assess whether or not Sunrun will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $25 on Sunrun. The Street high target is currently at $29 and the Street low target is $23. Of all the analysts covering Sunrun, 5 have positive ratings, no one has neutral ratings and no one has negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Sunrun have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Sunrun is 30.44% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Sunrun, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
FSLR, RUN Price Action: According to Benzinga Pro, First Solar shares are down 6.83% at $217.49 and Sunrun shares are down 10.2% at $15.46 at the time of publication Monday.
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