-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We are maintaining our $15 price target, applying an improved multiple of 1x (previously 0.88x) to our 2027 sales-per-share estimate of $15.00, representing a discount to RUN's three- and five-year average of ~1.3x-3x. Our valuation reflects a conservative view of revenue quality concerns and execution risks as the company navigates towards a new business strategy emphasizing direct sales and storage-first offerings. We are lowering our 2026 and 2027 sales estimates by ~$800M and $430M, respectively, reflecting ongoing pressure from the strategic transition. However, we are raising our 2026 and 2027 EPS estimates to $0.94 and $1.01, respectively, from $0.15 and $0.45, to reflect the high-margin and increasingly prominent storage-first aspect of RUN's business. We see declining subscriber addition growth, elevated creation costs, and lower volume offsetting positive core revenue growth and net subscriber value expansion. In our view, the stock trades at a relatively fair price.