US Tax-Credit Guidance Sparks Vestas Rally and Sunrun Upgrade

European renewable-energy shares rose on Monday after the U.S. Treasury Department and Internal Revenue Service issued long-awaited guidance clarifying how developers can qualify for federal clean-energy investment tax credits. Analysts said the rules were less restrictive than expected, easing concerns about project economics. Copenhagen-listed Vestas Wind Systems A/S led the move, with its stock jumping sharply in early trading. Jefferies analysts described the agencies’ guidance as “close to the best possible outcome,” noting it removes a key overhang for turbine makers and other suppliers exposed to the U.S. market. The clarification also rippled through U.S. solar names. RBC Capital Markets upgraded residential-installer Sunrun Inc. to outperform and raised its price target to $16 from $12, citing greater certainty over long-term earnings potential under the revised rules.