KeyBanc lowered the firm’s price target on Sunnova Energy to $34 from $39 and keeps an Overweight rating on the shares. The firm expects residential solar levered names to have a light Q1, as poor weather in key markets such as CA impacts deployments negatively. Further, KeyBanc expects that Sunnova will deliver a weak quarter but will reiterate full year guidance and flag its execution on the currently pending ABS deal. Given high short interest, the firm expects short covering to drive the shares higher.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on NOVA:
- Sunnova Energy price target lowered to $28 from $31 at Deutsche Bank
- Sunnova Energy designated as a bullish Fresh Pick at Baird
- Buy These Clean Energy Stocks, Morgan Stanley Says, Forecasting Over 100% Upside
- Sunnova Energy initiated with an Overweight at Morgan Stanley
- Sunnova Energy price target lowered to $17 from $23 at Goldman Sachs