TD Cowen lowered the firm’s price target on Sunnova Energy (NOVA) to $3 from $5 and keeps a Hold rating on the shares. The firm previewed Q4 results and said they see a more difficult demand backdrop, highlighted by recent headcount cuts, and signs of slowing ABS activity creating challenges to achieving cash generation targets.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOVA:
- Cautious Hold Rating for Sunnova Energy Amid Financial and Market Pressures
- Sunnova Energy Announces Resignation of Chief Accounting Officer
- Sunnova Energy to reduce workforce by more than 15%
- Sunnova Energy downgraded to Hold from Buy at Jefferies
- Sunnova Energy downgraded to Hold at Jefferies on risk to missing targets