Sunnova Energy price target lowered to $6 from $12 at Morgan Stanley

Morgan Stanley analyst Andrew Percoco lowered the firm’s price target on Sunnova Energy (NOVA) to $6 from $12 and keeps an Equal Weight rating on the shares. The firm reduced its industry view on clean technology to In-Line from Attractive, saying there is an added level of uncertainty in the market as to how the policy environment for renewables will change under the newly elected administration. In light of this, the firm recommends investing in stocks with high-quality and durable growth and margins, with a clear catalyst path and/or strong balance sheet to weather any near-term volatility in growth and/or profitability, pointing to GE Vernova (GEV), First Solar (FSLR) and Bloom Energy (BE) as its top Overweight picks in the space.