Sunlight Financial set for best day in over a year on Q1 results, buyback

Sun&L

17/05/2022 16:24

** Shares of solar financing provider  SUNL.N  surge 18.6%
to $4.08; set for best day since Jan 2021, if gains hold
    ** Among top-10 pct gainers across U.S. exchanges
    ** SUNL, which provides homeowners point of sale loan
options for residential solar systems, posted Q1 revenue that
beat Refinitiv analysts' consensus; adj EPS was in line
 urn:newsml:reuters.com:*:nBw5t83gGa
    ** Co begins $50 mln share repurchase program and reiterates
2022 forecast
    ** Brokerage Cowen & Co ("outperform", PT: $8.75) says it is
prudent that SUNL is mitigating interest rate risks through
depository funding; believes SUNL is well positioned to benefit
from strong solar demand
    ** Brokerage Roth Capital Partners ("buy", PT: $10) notes
SUNL's strong beat in funded volumes for home improvement loans
vs brokerage's estimates
    ** SUNL has fallen 28% YTD through last close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))