SunRun falls after Jefferies cuts to 'hold' citing industry weakness

Residential solar panel provider SunRun's RUN.O shares fall 2.45% to $6.76 premarket

Brokerage Jefferies downgrades to "hold" from "buy", cuts PT to $8 from $14

Says RUN is likely the best company in the residential solar market to outlast recent volatility but this doesn't translate to strong stock performance in the near future due to various industry challenges

"The lack of recovery in residential solar coupled with persistent IRA (Inflation Reduction Act) uncertainty makes it difficult to underwrite any outperformance among (its) peers," says Jefferies

RUN stock down 42.3% in the past 12 months