Sunnova Energy downgraded to Equal Weight from Overweight at Morgan Stanley

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.