2 Solar Stocks Wall Street Predicts Will Rally by 50% or More

NASDAQ: RUN | SunRun Inc. News, Ratings, and Charts

RUN – Government incentives and tax rebates for installing solar panels and meeting net-zero carbon emission goals are expected to continue driving the solar industry’s growth. Therefore, Wall Street analysts are placing huge bets on fundamentally sound solar stocks. They expect the shares of quality players in this space, Sunrun (RUN) and Beam Global (BEEM), to rally by more than 50% in price. So, read on.

With the introduction of the federal solar investment tax credit (ITC), which provides a 26% tax credit for systems installed in 2020 – 2022, more homeowners have been encouraged to install solar panels. Although supply constraints in critical components, such as copper, semiconductors, and other metals, have affected installations, higher demand driven by the residential home renovation boom should keep  prices high.

According to the U.S. Solar Market Insight report for the second quarter of 2021, the U.S. solar market exceeded 100 gigawatts of installed electric generating capacity, thereby doubling the industry’s size over the past 3.5 years. Moreover, the Biden administration’s net-zero carbon emission goals should bolster the industry’s growth further. The global solar energy market is projected to reach $223.3 billion by 2026,  registering a 20.5% CAGR.

Thus, Wall Street analysts are hopeful about the upside potential of several fundamentally sound solar stocks. The consensus price targets for Sunrun Inc. (RUN) and Beam Global (BEEM) indicate a potential upside of more than 50% in the coming months.

Sunrun Inc. (RUN)

RUN is one of the leading home solar panel and battery storage companies. The San Francisco, Calif.-based company offers solar energy systems and products such as  solar leads, panels, and racking to mainly residential homeowners. In addition, it provides rechargeable solar battery systems, custom solar designs, and personalized services.

In August, RUN launched a new program, “PowerU,” to train its employees and upgrade their skills to make them more efficient and abreast of the rapidly growing clean energy industry. This should  enable the company to improve its operational efficiency and witness sustainable long-term growth.

Also, in August, RUN and Self-Help Enterprises installed a new 138 kilowatts solar system, the “Sand-Creek.” The system can provide efficient solar energy to 60 affordable rental homes and save approximately $50 on monthly bills.

In May, RUN partnered with Ford Motor Company (F) to run Ford Intelligent Backup Power installation. RUN-enabled easy installation of the 80-amp Ford Charge Station Pro and home integration system will serve as a home backup energy source during a power cut.

RUN’s total revenue for the second quarter, ended June 30, 2021, increased 121.3% year-over-year to $0.4 billion. The company’s net earning assets stood at $4.5 billion. RUN’s customer agreements and incentive revenue increased 107% from the year-ago value to $219.5 million. In addition, its solar energy systems and product sales revenue increased 142% from the prior-year quarter to $181.7 million.

Analysts expect RUN’s revenue for its fiscal year 2021 to be $1.55 billion, representing a 68.6% year-over-year growth. The company’s EPS is expected to increase 65.1% in the current year. Moreover, the stock has gained 6.8% in price over the past three months.

All  10 Wall Street analysts that have provided ratings for the stock rated it Buy. Closing yesterday’s trading session at $47, the average analyst price target of $78.10 represents a 66.2% potential gain.

Beam Global (BEEM)

BEEM in San Diego, Calif., is a cleantech leader that produces patented infrastructure products for the electrification of transportation, energy security, and outdoor media. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), Solar Tree DCFC, and EV RC DCFC. The company operates in 121 countries and 13 U.S. states.

In August, BEEM announced that a Chinese patent had been granted for its compact transportation configurable EVC ARC system. This should  enable the company to explore new international expansion opportunities because  the patent will protect its IP in China and Europe.

Also, In August, the City of Racine in Wisconsin deployed BEEM’s EV ARC solar-powered EV charging system for City fleet electric vehicles. Since this supports zero-emissions charging, more state and local agencies could adopt its ready-to-deploy sustainable EV charging solutions.

For the second quarter, ended June 30, 2021, BEEM’s revenue increased 46% year-over-year to $2.12 billion. The company’s pipeline sales increased by 50% to $75 million during this period. Its cash stood at $25.31 million, while its working capital came in at $28.18 million as of June 30, 2021. BEEM’s interest income amounted to $2,000.

BEEM’s revenue is expected to increase 109.5% year-over-year to $22.04 million in its fiscal year 2022. In addition, the company’s EPS is expected to increase by 12.8% next year. Over the past year, the stock soared 104.2% in price.

Of the four Wall Street analysts that have provided ratings for the stock, two rated it Buy. The $46 consensus price target represents a 56.3% potential upside from its $29.44  last closing price.


RUN shares were trading at $48.07 per share on Thursday afternoon, up $1.07 (+2.28%). Year-to-date, RUN has declined -30.71%, versus a 22.04% rise in the benchmark S&P 500 index during the same period.


About the Author: Imon Ghosh


Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. She began her career at Kantar IMRB, a leading market research and consumer consulting organization. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
RUNGet RatingGet RatingGet Rating
BEEMGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

Should You Be Worried About $200 Oil?

One of the biggest challenges facing the economy is the rising price of oil. Already, it’s starting to eat into consumer spending and exacerbating other inflationary pressures. However, investors should prepare themselves for a world with much higher oil prices. In this article, we will explore some reasons that oil prices could surge even higher and strategies investors can use to profit in this scenario. Read on below to find out more…

:  |  News, Ratings, and Charts

3 Defensive Stocks to Consider Buying During the Market Downturn

The Fed’s aggressive interest rate increases to fight high inflation has raised concerns about a potential recession. During times of market turmoil, companies in defensive sectors will likely perform better than the broader market owing to inelastic demand for their products. Thus, we think it could be profitable now to bet on shares of defensive companies CVS Health (CVS), PepsiCo (PEP), and Albertsons (ACI). Read on.

:  |  News, Ratings, and Charts

5 Beaten-Down Tech Stocks That Are Screaming Buys

Concerns over the hawkish Fed and increasing odds of the economy slipping into recession have caused a broad-based sell-off in the stock markets over the past few weeks. However, this offers entry opportunities in beaten-down tech stocks VMware (VMW), Jabil (JBL), Fujitsu (FJTSY), Semtech (SMTC), and Cirrus Logic (CRUS), which possess solid fundamentals.

:  |  News, Ratings, and Charts

3 High-Quality Dividend Aristocrats to Buy in May

The stock market is experiencing heightened volatility and given the Fed’s aggressive monetary stance to tame inflation, stocks might tumble further in price before hitting a bottom. Hence, we think dividend aristocrats W.W. Grainger (GWW), Target Corp. (TGT), and Cintas Corp. (CTAS) could be quality additions to one’s portfolio now. Read on.

:  |  News, Ratings, and Charts

5 Beaten-Down Tech Stocks That Are Screaming Buys

Concerns over the hawkish Fed and increasing odds of the economy slipping into recession have caused a broad-based sell-off in the stock markets over the past few weeks. However, this offers entry opportunities in beaten-down tech stocks VMware (VMW), Jabil (JBL), Fujitsu (FJTSY), Semtech (SMTC), and Cirrus Logic (CRUS), which possess solid fundamentals.

Read More Stories

More SunRun Inc. (RUN) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All RUN News