What happened Shares of residential solar, battery-storage, and energy-services company Sunrun (NASDAQ: RUN) jumped double digits Friday after an analyst said the stock is a buy. This was in response to a 25% drop since the start of 2021. As of 1:50 p.m. EDT, shares in Sunrun were up 10.3% on the day. So what Investors have spent much of the start of 2021 rotating away from more speculative, high-growth stocks like solar power company Sunrun. But Piper Sandler analyst Kashy Harrison thinks the retrenchment has gone far enough and upgraded Sunrun to the equivalent of a buy rating today. The firm assigned Sunrun shares a price target of $77, representing 63% upside from Thursday's closing price, as reported by Barron's. Image source: Getty Images. Now what The stock's decline so far in 2021 doesn't tell the full story. Going back 12 months, Sunrun shares are up more than 355%. Even with negative impacts in solar installations due to the pandemic, Sunrun managed to increase full-year 2020 revenue by 7% versus 2019. It also completed the acquisition of Vivint Solar in October 2020, helping fourth-quarter revenue grow 31% compared to the prior-year period. Management also updated expected annual cost savings from the business combination from $90 million to $120 million by the end of 2021. Part of analyst Harrison's thesis is the political shift toward more support for expanding the use of renewable energy, including solar. Even without the passage of a new infrastructure bill or added tax breaks, Sunrun has shown it can benefit from consumer demand that already exists. 10 stocks we like better than SunrunWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Sunrun wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source