Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Morgan Stanley slashed its price target on the shares of Sunrun Inc (NASDAQ: RUN) to $8 from $19 as higher financing costs and a more challenging growth outlook would pressure cash flow.
"While the residential solar business model is not negatively impacted by global solar oversupply, and could actually benefit from slightly lower panel costs, it is facing other fundamental business risks," analysts at Morgan Stanley wrote in a note.
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The analysts said the risks include "aggressive competition, increasing penetration in key markets, challenges to currently favorable net metering rules from both utilities and consumer advocates, and potential shifting customer purchase patterns away from long term solar leases."
As such, the brokerage cut its 2016-20 deployment forecast by 350 MW (13 percent) to reflect the risk of a negative regulatory outcome in Arizona and increasing competition.
However, Morgan Stanley remains Overweight on Sunrun, saying, "1) RUN is a relative winner in an oversupplied global solar market; and 2) the current stock price reflects limited growth beyond the next few years, something which we see as unlikely."
At time of writing, shares of Sunrun were flat at $5. The revised $8 price target implies 57 percent upside from the current levels.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.