Sunrun stock gets buy rating from Credit Suisse

Shares of Sunrun Inc. got a buy rating from Credit Suisse on Monday, with analysts at the bank setting a $20 price target for the residential solar installer’s stock. San Francisco-based Sunrun is “well positioned to outgrow (the residential solar leasing market) and generate above-peer returns in the long term,” thanks to its capital-efficient growth, multi-channel strategy, and broad reach, the analysts said. Shares of Sunrun rose 1.9% on Monday to trade at $11.84, 15% below its Aug. 5 IPO price of $14 a share.

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Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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