Northland analyst Donovan Schafer downgraded Sunnova Energy (NOVA) to Market Perform from Outperform with a price target of $9, down from $12, citing the rising customer termination rate. With the stock down greater than 20% in yesterday’s trading, Sunnova’s results and commentary were “clearly viewed in a very negative light” and it “probably doesn’t help” that peer Sunrun (RUN) also reported a Q4 miss and conservative outlook, the analyst tells investors.
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Read More on NOVA:
- Sunnova Energy Updates Investor Presentation Online
- Sunnova Energy sees FY24 customer additions 185,000-195,000
- Sunnova Energy reports Q4 EPS ($1.53), consensus (18c)
- SHAREHOLDER ALERT: Potential Recovery for Sunnova Energy International Inc. (NOVA) Investors
- Notable companies reporting after market close
