3 Solar Stocks That Wall Street Thinks Could Surge 50% or More
After soaring last year, renewable energy stocks have seen some correction this year. Solar stocks were no exception. Residential solar installer Sunrun's (NASDAQ: RUN) stock is 44% off its high while Sunnova Energy International (NYSE: NOVA) stock is 35% off its high this year. Likewise, solar component specialist Array Technologies (NASDAQ: ARRY) stock is 45% off its high price in 2021. Analysts, however, see 50% or more upside in each of the three stocks. Let's see if these solar stocks can soar to the levels analysts are expecting.
Analysts' average price target of $80.20 for Sunrun is nearly 50% higher than its current price. Indeed, there are reasons to be upbeat about Sunrun. As the country's largest residential solar installer, Sunrun's scale and experience give it an edge over other players in the segment. The company has more than 550,000 customers -- the highest among all residential solar installers -- and it continues to expand its customer base.
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Source Fool.com
