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☆ China lost 36% of its billionaires to years of economic troubles and crackdowns
▼ + stars: | 2024-10-30 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +7 min

According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021. Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total. It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher. AdvertisementThat led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.

Persons: —, crackdowns, China's superrich, Zhang Yiming, Bytedance, Yiming, Zhong Shanshan, Rupert Hoogewerf, Robin Zeng, Li, Kerry Brown, Xi, Jack Ma, Alibaba, Brown, Joel Gallo, China shouldn't, it's Organizations: Service, Reuters, King's College London, Ant Group, & Partners, Bloomberg, New York University Shanghai, Communist Locations: China, Taiwan, Greater China

☆ Sunrun sees market opportunity after SunPower files for bankruptcy, company's shares surge
▼ + stars: | 2024-08-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

A contractor carries a SunRun solar panel on the roof of a home in San Jose, California, U.S., on Monday, Feb. 7, 2022. Sunrun stock jumped 11% on Wednesday as the rooftop solar installer sees an opportunity to snag market share after competitor SunPower filed for bankruptcy this week. "This presents an opportunity for Sunrun to continue our industry leadership and gain share in a financially disciplined and measured way," Powell told analysts on the company's second-quarter earnings call Tuesday. Sunrun has hired two former SunPower executives, Matt Brost and Ellen Struck, to lead the company's new homes business. Sunrun's stock is up about 50% over the past month, though shares are down about 6.7% so far this year.

Persons: SunPower, Mary Powell, Powell, Sunrun, Matt Brost, Ellen, Goldman Sachs, Brian Lee Organizations: Wall Locations: San Jose , California, U.S

While he pulled back his price target to $26 from $32, the new target still indicates shares surging 126% from Wednesday's close. Fox's fiscal third quarter results came above Rief Ehrlich's expectations, which she noted were encouraging "amid a difficult linear advertising environment." — Fred Imbert 5:50 a.m.: Wall Street on the sidelines for Airbnb Airbnb's weaker-than-expected forward guidance has analysts worried about the company's growth outlook. Post pulled back his price target by $8 to $160, just 1.3% above where shares closed on Wednesday. Meanwhile, analyst Eric Sheridan moved his price target slightly higher to $130 from $123, suggesting around 18% downside.

Persons: Raymond James ., Jefferies, Dushyant Ailani, Ailani, — Hakyung Kim, Jessica Reif Ehrlich, … Fox, Davidson downgrades, Davidson, Tom White, Tripadvisor, we'd, White, Hakyung Kim, Raymond James Cheesecake Factory, Raymond James, Brian Vaccaro, Vaccaro, Andrew Boone, Shopify, Boone, Fred Imbert, Airbnb, LSEG, Morgan Stanley, Brian Nowak, Nowak, Bank of America's Justin Post, Post, Goldman Sachs, Eric Sheridan Organizations: CNBC, JPM Securities, Cheesecake, Bank of America, Fox, Media, of America, …, Factory, Cheesecake Factory, JMP Securities, Bank of America's Locations: Wednesday's, 2H24

☆ Goldman sees 50% upside from here for Sunrun following results
▼ + stars: | 2024-05-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Goldman Sachs says Sunrun shares are poised for a big increase after being on a downward trend all year. "RUN continues to expect a 1Q24 trough with an inflection in 2H24," Goldman Sachs analyst Brian Lee wrote in a note on Thursday. Goldman reiterated its buy rating on the shares and $18 price target, implying more than 50% upside from Wednesday's closing price. Sunrun shares are down about 42% for the year. RUN YTD mountain Sunrun shares are down 41% in 2024 — CNBC's Michael Bloom contributed reporting.

Persons: Goldman Sachs, Brian Lee, Goldman, —, Michael Bloom

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

☆ Here are Thursday’s biggest analyst calls: Nvidia, Rivian, Sunrun, DoorDash and more
▼ + stars: | 2024-02-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Morgan Stanley raises Nvidia price target Morgan Stanley increased its price target on shares to $795 from $750 after the chipmaker's earnings announcement. " UBS reiterates Nvidia as buy, but trims price target UBS reiterated its buy rating on Nvidia but reduced its price target to $800 from $850. Morgan Stanley upgrades DoorDash to overweight from equal weight Morgan Stanley's upgrade comes after the stock fell around 10% since its earnings report on Feb. 15. Morgan Stanley reiterates overweight rating on Rivian Automative Morgan Stanley kept its overweight rating on Rivian , but cited concerns on the company's outlook. Jefferies reiterates Sunrun as buy Jefferies also raised its price target on Sunrun to $31 from $25, implying shares nearly doubling from Wednesday's close.

Persons: Morgan Stanley, Goldman Sachs, Nvidia Goldman, Morgan, Rivian, Automative Morgan Stanley, Jefferies, Sunrun, Bernstein, Wendy's, Wendy, TD Cowen, Cowen, COTY, Cantor Fitzgerald, Root, Cantor, Remitly Organizations: NVIDIA, UBS, Nvidia, Data Center, RBC, Rivian Automotive, EV, Petrobras, ITC, Coty, BMO, Markets Locations: Argentine, China, Brazil, 2024E

☆ Sunrun stock could double in value as company shifts to solar energy storage, Jeffries says
▼ + stars: | 2024-02-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Sunrun could see its stock price double over the next 12 months as the company is well positioned to take advantage of growth in the residential solar market after a disappointing 2023, according to Jeffries. Sunrun's stock was down nearly 9% in morning trading on Thursday after the company posted a steeper fourth-quarter loss than Wall Street expected and missed revenue estimates. The company's net subscriber value of $13,445 in the fourth quarter came in 12% above consensus estimates, Ailani wrote. Ailani's new price target is based on Sunrun's future subscriber growth plus the present value of its existing customers. Jeffries is estimating that Sunrun will add about 121,000 new subscribers in 2024, which is 7% above consensus estimates.

Persons: Jeffries, Dushyant Ailani, Sunrun, Ailani, — CNBC's Michael Bloom Organizations: Wall

☆ Here are Monday's biggest analyst calls: Netflix, Nvidia, Apple, Meta, Lowe's, Walmart, Target, Pepsi & more
▼ + stars: | 2024-02-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."

Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk

☆ Jim Cramer’s guide to investing: What do you do with a hot stock?
▼ + stars: | 2023-12-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Sooner or later, virtually all hot stocks implode, said CNBC's Jim Cramer. And according to him, it's important for investors to know when to cash in before that happens. By hot stocks, Cramer means speculative companies with relatively low market capitalization that are risky, but have the potential for high reward. These hot stocks can come out of nowhere, attract more and more attention, but will eventually get tapped out once all of the interested investors have bought shares, he added. "Eventually everyone who wants a piece of the stock has a piece of it," he said.

Persons: Jim Cramer, Cramer

☆ Here are Thursday's biggest analyst calls: Amazon, Sunrun, Qualcomm, Eli Lilly, SolarEdge, Estée Lauder and more
▼ + stars: | 2023-11-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America reiterates Qualcomm as buy Bank of America said it's standing by its buy rating on the stock after its earnings report Wednesday. Citi reiterates Eli Lilly as buy Citi said it sees further upside after the company's earnings report Thursday. RBC downgrades Estée Lauder to sector perform from outperform RBC downgraded the stock after the company's earnings report. Pivotal upgrades Roku to hold from sell Pivotal upgraded the stock after its earnings report Wednesday. " Guggenheim downgrades SolarEdge to neutral from buy The firm said it's "giving up" on its positive stance on the stock.

Persons: RUN's, Taylor Morrison, WK Kellogg, Truist, Amgen, it's, Citi, Eli Lilly, Janus Henderson, underperform KBW, Estée Lauder, F1Q, Bernstein, Hess, CVX, Guggenheim, SolarEdge, Stifel Organizations: Bank of America, Qualcomm, HSBC, Amazon, BMO, Toll, M.D.C . Holdings, JPMorgan, Health, of America, UBS, Eastman Chemical, Citi, Management, RBC, Chevron Locations: Ecommerce, China, U.S

☆ Islanders win after Sens' Erik Brannstrom taken off on stretcher
▼ + stars: | 2023-10-27 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

Brannstrom didn't move as Senators trainers quickly reached the ice and the stretcher was wheeled out of a tunnel. Nine Ottawa players took a knee and the Islanders stood in a circle in a silent UBS Arena as Brannstrom was moved onto the stretcher. Bo Horvat and Cal Clutterbuck scored in the first for the Islanders, who snapped a three-game losing streak (0-2-1). The Senators tied the score during a second period in which the Islanders committed six penalties. The Senators tied the score on Chychrun's even-strength goal at 12:25 of the second period, a little more than four minutes after Brannstrom was injured.

Persons: Noah Dobson, Erik Brannstrom, Brannstrom, Bo Horvat, Cal Clutterbuck, Ilya Sorokin, Claude Giroux, Jakob Chychrun, Joonas Korpisalo, Dobson, Horvat, Rourke Chartier, Casey Cizikas, Giroux, Sorokin, Ryan Pulock, Brady Tkachuk Organizations: New York Islanders, Ottawa Senators, Senators, Nine Ottawa, Islanders, UBS Arena, Brannstrom, Cal, Ottawa, Thomson Locations: Elmont, N.Y

☆ Founder of discount e-shopping firm PDD races up China's rich list
▼ + stars: | 2023-10-24 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

Colin Huang, who founded PDD in 2015 and stepped down as CEO in 2020, was the fastest riser in this year's Hurun Rich List, leaping seven places to be ranked China's third richest man with a $37.2 billion fortune. Richard Liu, who founded e-commerce giant JD.com, also saw his wealth, and that of his wife Zhang Zetian, fall by $6.2 billion since last year to $8.26 billion, according to Hurun's list. JD.com's shares fell to a record low earlier this month after banks cut its price targets citing a weaker-than-expected recovery in consumer spending. Hui Ka Yan is currently being investigated over suspected "illegal crimes", Evergrande said last month. Reporting by Casey Hall; editing by Brenda Goh and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Colin Huang, Yin Liqin, Rich, Jack Ma, Alibaba, Richard Liu, Zhang Zetian, Rupert Hoogewerf, PDD's Temu, Zhong Shanshan, Pony Ma, Hurun, Wang Jianlin, Hui Ka Yan, Evergrande, Casey Hall, Brenda Goh Organizations: Nasdaq, REUTERS, Rights, PDD Holdings, PDD, HK, Hurun, Dalian Wanda Group, China Evergrande, Thomson Locations: New York, Shanghai, China

☆ Deutsche Bank downgrades three solar stocks as industry demand weakens in the U.S. and Europe
▼ + stars: | 2023-10-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Softening demand means that investors should consider pivoting away from solar stocks, according to Deutsche Bank. The firm downgraded three solar names to hold from buy: SolarEdge , Sunrun and Sunnova . Deutsche lowered the price target for SolarEdge to $150 — implying a 32% potential upside from the stock's closing price Thursday — from $300. Those comments, along with SolarEdge cutting its third-quarter revenue guidance, put pressure on the broader solar sector. Earnings season for the solar industry kicks off with Sunnova reporting results on Oct. 25.

Persons: Deutsche, Sunnova, SolarEdge, Sunrun, Corinne Blanchard, whittle, Blanchard, there's, — CNBC's Michael Bloom Organizations: Deutsche Bank, NOVA, Bloomberg Locations: U.S, Northeastern U.S, Southern, China

☆ Cramer's Lightning Round: Blackstone is 'too much of a black box'
▼ + stars: | 2023-10-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Blackstone's year-to-date stock performance. Stock Chart Icon Stock chart icon Sunrun's year-to-date stock performance. Stock Chart Icon Stock chart icon FMC's year-to-date stock performance. Stock Chart Icon Stock chart icon BP's year-to-date stock performance. Stock Chart Icon Stock chart icon Paramount's year-to-date stock performance.

Persons: Jim Cramer's, Blackstone, I'm, It's, we're Organizations: PSA, Dominion, Dominion Energy, FMC, Paramount

☆ Shares of this residential solar company could more than double, predicts Guggenheim
▼ + stars: | 2023-09-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Growing solar panel installations and a smart play around interest rates are set to propel shares of Sunrun higher, according to Guggenheim. Analyst Joseph Osha reiterated his buy rating for the residential solar company in a note Thursday and raised his price target to $36 from $35. "We believe that RUN should be the best-performing of the residential solar developer stocks for this year and next," Osha wrote. Osha's upgrade comes even as Sunrun shares have plummeted almost 44% in 2023, underperforming even the Invesco Solar ETF (TAN) , which is down 26% during that time. "Our 9% outlook for RUN's MW installations is moderately above consensus."

Persons: Joseph Osha, Sunrun, Michael Bloom Organizations: Guggenheim, Osha Locations: California

United Parcel Service's (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023. Collectively, zero-emission delivery startups have raised around $1 billion so far, according to Pitchbook and data collected by Reuters. H&M, the world's second-largest fashion retailer, said it is scaling up a number of zero-emission delivery initiatives "through a variety of partnerships like the one... with Liefergrun." "Some customers are pushing very, very hard for as many zero-emission deliveries as possible," Hoed said. DHL's Zou said zero-emission delivery startups are not a threat, but added "we are always keen to look at them either for a commercial partnership or working together."

Persons: Lisa Baertlein, Germany's Liefergrun, Niklas Tauch, Tauch, Yin Zou, Tristan Thomas, DutchX, Marcus Hoed, Hoed, DHL's Zou, Sven Etzelsberger, Thomas Goldsby, Goldsby, Rob King, Zedify, King, Nick Carey, Ben Klayman, David Gregorio Our Organizations: REUTERS, LOS, Reuters, FedEx, Deutsche Post DHL Group, United Parcel Service, Mercedes, Benz, DHL, Deutsche Post DHL, Amazon, Foods, IKEA, University of Tennessee, UPS, Thomson Locations: Compton , California, U.S, New York, Berlin, Germany, Austria, Netherlands, London, Liverpool, Birmingham, Manchester, Europe, Manhattan, Philadelphia, California

☆ Sunrun could rally almost 40% from Tuesday's close, Citigroup says
▼ + stars: | 2023-08-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Residential solar energy company Sunrun is now trading at an attractive valuation, according to Citigroup. The bank upgraded Sunrun to buy from neutral at the same time it actually lowered its price target by $4 to $21, which still implies almost 40% upside against Tuesday's close. Shares were up 8.5% in premarket trading Wednesday after slumping nearly 37% year to date through Tuesday. Sunrun is "not getting due credit" for numerous catalysts set to drive the stock higher, analyst Vikram Bagri said in a Wednesday note. Sunrun also has a 37% stake in Lunar and potential from SnapNrack and virtual power plants, Citigroup said.

Persons: Tuesday's, Sunrun, Vikram Bagri, Bagri, — CNBC's Michael Bloom Organizations: Citigroup

☆ Here are Wednesday's biggest analyst calls: Apple, Netflix, Nvidia, Alphabet, FedEx, Tesla & more
▼ + stars: | 2023-08-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

While this reads through positively for spot BTC ETF approvals, it remains unclear if this will be a net positive for Coinbase's P & L." Citi reiterates FedEx as a top pick Citi said FedEx has "parcel pricing power." Wells Fargo reiterates Spotify as buy Wells said it's standing by its overweight rating on shares of the streaming company. Citi reiterates Apple as buy Citi said it's bullish heading into Apple's iPhone event on Sept. 12. Wells Fargo reiterates Netflix as overweight Wells said it's standing by its overweight rating on the streaming giant. "We initiate coverage of Atour with an Overweight rating and a price target of US$36, implying > 80% potential upside."

Persons: Morgan Stanley downgrades Centene, Morgan Stanley, TD Cowen downgrades Ambarella, Wells, it's, Bernstein, Melius, Guggenheim, Tesla, Evercore Organizations: Wednesday, Barclays, SEC, BTC, Citi, FedEx, UPS, Transports, FLNC's Services, HSBC, Spotify, Apple, Texas, Rockwell Automation, ROK, UW, Netflix, Nvidia, Bank of America, Google, Tesla, Energy Locations: China, Europe, Ohio Utica, Oklahoma

☆ Cramer's Lightning Round: Indie Semiconductor is not a buy
▼ + stars: | 2023-08-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Super Micro Computer's year-to-date stock performance. Stock Chart Icon Stock chart icon NRG Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Ecolab's year-to-date stock performance. Stock Chart Icon Stock chart icon Old Republic's year-to-date stock performance. Stock Chart Icon Stock chart icon Indie Semiconductor's year-to-date stock performance.

Persons: Zimmer, Zimmer Biomet, there's, they're, Cintas, Jim Cramer's Organizations: Nvidia, Networks, Extreme Networks, GE Healthcare, NRG Energy, Indie Semiconductor, Arista Networks, Arista, Cisco Locations: Southern, Republic

☆ Janney upgrades Sunrun to buy, sees nearly 80% upside as the solar company gains market share
▼ + stars: | 2023-08-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors should buy up shares of Sunrun , as it continues to stand out in the solar industry, according to Janney. The company's margins are expanding through higher battery attach rates and lower component pricing, for example. And while competitors are seeing the same, Meric sees Sunrun as being "structurally more well-positioned" through its high third-party owner percentage and incumbent tax-equity relationships. Sunrun is executing on its plan despite a volatile solar market, which Meric expects will come through in added customers and margins over the next several quarters. The most foreseeable problem for Sunrun is its costs, Meric said.

Persons: Janney, Thomas Meric, Meric, Sunrun, Michael Bloom Organizations: Enphase Energy Locations: Wednesday's, California

☆ Morgan Stanley says these 5 stocks are ways to play the green housing market
▼ + stars: | 2023-07-31 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Morgan Stanley said high utility costs and growing awareness may drive a consumer shift to environmentally friendly products in housing — and there's a group of stocks that could benefit. That recovery should be driven by growing activity in the single-unit housing market, analyst Laura Sanchez said in a July 26 report. Morgan Stanley has five stocks with overweight ratings across the green housing landscape. Both Sunnova and Sunrun have monster rebounds expected after underperforming the market so far this year. The average analyst holds a buy rating, while the average price target implies the stock's 2023 rally could be coming to an end, according to Refinitiv.

Persons: Morgan Stanley, Laura Sanchez, Sanchez, Sunrun, Johnson, — CNBC's Michael Bloom Organizations: NOVA, Trane Technologies Locations: U.S, California, Mexico

As Jeanbrun's wife and children, aged 5 and 7, took flight through the back yard, they were targeted with fireworks. Jeanbrun told Prime Minister Elisabeth Borne his wife had had surgery to a broken leg and faced a three-month rehabilitation. "While attempting to shield them and fleeing the attackers, my wife and one of my children were hurt," the mayor said. Jeanbrun's town hall has been the target of attack for several nights since Tuesday's shooting and has been protected with barbed wire and barricades. "I didn’t think we'd ever live through something like this," the mayor told another bystander who wished his wife well.

Persons: Vincent Jeanbrun, Melanie, Jeanbrun, Elisabeth Borne, Yves Herman The, Elizabeth Pineau, Benoit van Overstraeten, Richard Lough, Alison Williams Organizations: REUTERS, Thomson Locations: Paris, L'Hay, France, Jeanbrun's

☆ Oppenheimer says a rally is coming for renewable stocks, gives its top picks
▼ + stars: | 2023-04-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Renewable energy stocks are setting up for a rally, according to Oppenheimer. He expects U.S. demand to continue to track to 10% growth in 2023, with potential for upside as the IRA 's credits are clarified. Meanwhile, the company guided $700 million to $740 million in revenue for the first quarter, versus the $685.2 million expected. The stock has about 28% upside, according to Rusch's $383 price target. Lastly, Sunrun's stock is set for a big rally, according to the analyst.

☆ Barclays downgrades Sunrun, cites weaker demand outlook for residential solar energy
▼ + stars: | 2023-01-25 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

The outlook for solar panel company Sunrun is more uncertain in 2023, according to Barclays. Analyst Christine Cho downgraded shares to equal weight from overweight, and lowered her price target, citing the likelihood for weaker demand ahead for U.S. residential solar energy. Sunrun shares are higher by more than 8% in 2023, after underperforming the previous two years. The analyst's $35 price target, dropped from $44, still implies more than 34% upside from Tuesday's closing price of $26.09. Separately, the analyst downgraded shares of SunPower to underweight from overweight, and lowered her price target to $18 from $26.

Despite layoff announcements and signs of a slowdown elsewhere in the economy, the labor market for clean energy jobs remains tight. said Abigail Ross Hopper, president of the Solar Energy Industries Association trade group. The Biden Administration has repeatedly promised that new green energy jobs would be well-paying union jobs. Some solar companies have tried to recruit veterans, saying the skills learned in military life translate well to the industry. Utility scale solar developer SOLV Energy, SunPower and Nextracker last year teamed up with nonprofit Solar Energy International to fund a women-only training program for solar installers.

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