Morgan Stanley analyst Andrew Percoco downgraded Sunnova Energy to Equal Weight from Overweight with a price target of $14, down from $24. The firm believes there is “a large dislocation” between the stock price and the value of the company’s asset base, but sees a less clear path to realizing that value over the next 12 months, driving its decision to downgrade the stock, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NOVA:
- Roku downgraded, Seagate initiated: Wall Street’s top analyst calls
- Sunnova Energy downgraded to Neutral at Janney on demand uncertainty
- Sunnova Energy price target lowered to $21 from $25 at Mizuho
- Sunnova Energy downgraded to Neutral from Buy at Janney Montgomery Scott
- Sunnova Issues Loan Notes and Revamps Executive Pay