Sunrun (RUN +4.8%) surges as much as 6%, with analysts saying the company is ideally positioned to benefit as the California blackouts inspire more consumers to seek backup power solutions.
"Ratepayers are focused on concerns regarding resilience in the case of blackouts and what alternatives are available," JMP Securities analyst Joseph Osha says while reiterating his Outperform rating and $26 price target on RUN shares.
"We expect uptake of solar-plus-storage solutions in the residential retrofit market to continue accelerating as a result of this past week's events," Osha writes.
California blackouts are positive for solar and storage backup demand, says Credit Suisse's Michael Weinstein, "which could materialize in lower-cost lead generation across the state for potential installations next year."
Weinstein reiterates his Outperform rating and $26 price target on RUN.