Sunnova Energy price target lowered to $12 from $18 at Barclays

Barclays lowered the firm’s price target on Sunnova Energy to $12 from $18 and keeps an Overweight rating on the shares. The analyst says favorable domestic content updates should increase cash generation for both Sunnova Energy (NOVA) and Sunrun (RUN) while declining equipment costs and the rising likelihood of interest rate cuts should also provide some support after a challenging couple of years for the residential installers.