Sunnova Energy price target lowered to $17 from $30 at Guggenheim

Guggenheim analyst Joseph Osha lowered the firm’s price target on Sunnova Energy (NOVA) to $17 from $30 and keeps a Buy rating on the shares. Sunnova’s high-leverage, high-growth strategy “may have been reasonable during an era of lower interest rates,” but now the company’s approach is “creating significant risks for equity investors,” the analyst says in a not titled “Wrong Strategy For These Times.” The firm is continuing with a Buy rating, but we cutting its price target while stating that investors in residential solar “would be better off owning” Sunrun (RUN).