Sunnova Energy initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Corinne Blanchard initiated coverage of Sunnova Energy with a Buy rating and $36 price target. The analyst’s bullish outlook on the solar group is "underpinned by considerable growth opportunities" for the U.S. residential market and the "most powerful and positive regulatory environment the industry has ever seen." Tailwinds will "outshine any short-lived negatives," Blanchard tells investors in a research note. The analyst "favors quality names that look well set to benefit from a growing untapped market" and boosted solar demand in the U.S. and in key international markets. She says Sunnova is trading at a discount to its fundamental value.