RBC cuts solar stock PTs amid US Senate plan to end tax credits by 2028
ReutersJun 18, 2025 11:27 AM
RBC Capital Markets expects residential solar demand to take a big hit from proposed U.S. Senate reconciliation bill, which phases out solar energy tax credits by 2028
Brokerage believes utility solar to be more resilient, as proposed revisions are less punitive and these projects are not limited by leasing restrictions
"Our outlook for growing electricity demand remains strong and is a more direct and significant driver for utility-scale generation demand," - RBC Capital Markets
Brokerage cuts PT on following companies:
Company | New PT | Old PT | Upside/Downside to stock's last close |
Enphase Energy ENPH.O | $28 | $50 | 19.8% downside |
First Solar FSLR.O | $188 | $230 | 30.6% upside |
SolarEdge Technologies SEDG.O | $12 | $14 | 24.8% downside |
Sunrun RUN.O | $5 | $12 | 13.5% downside |
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