Sunrun Stock Continues To Charge Higher: What's Going On?

Sunrun Inc RUN shares are trading higher Tuesday after Morgan Stanley on Monday raised its price target on the stock.

What Happened: Morgan Stanley analyst Stephen Byrd maintained Sunrun with an Overweight rating and raised the price target from $30 to $39.

The analyst update comes just days after Barclays analyst Christine Cho maintained Sunrun with an Equal-Weight rating and lowered its price target from $31 to $27. Despite recent strength, Sunrun is still trading below Cho's price target and well below Byrd's target. 

Sunrun shares are up more than 16% over the last month amid strength in the clean energy space. Sunrun rallied more than 12% on Monday. Several other solar stocks also saw significant gains. 

Sunrun is scheduled to report second-quarter financial results after the market close on Aug. 2. The company is expected to report a loss of 23 cents per share on quarterly revenue of $628.65 million, according to Benzinga Pro.

See Also: What's Going On With Uber Stock Tuesday?

RUN Price Action: Despite the recent rally, Sunrun shares are still down approximately 9% year-to-date.

RUN was up 6.37% at $23.22 at the time of publication, according to Benzinga Pro.

Photo: Leopictures from Pixabay.