Sunnova Energy price target lowered to $5 from $14 at UBS

UBS analyst William Grippin lowered the firm’s price target on Sunnova Energy (NOVA) to $5 from $14 and keeps a Buy rating on the shares. Lack of clarity on addressing the $975M of 2026 corporate debt maturities remains an overhang, the analyst tells investors in a research note. The firm continues to believe the market is pricing in beyond worst-case scenarios given Sunnova’s meaningful $2B in net contracted customer value and likelihood of incremental value creation during any Investment Tax Credit policy transition period.