Sunnova Energy price target lowered to $21 from $25 at Mizuho

Mizuho lowered the firm’s price target on Sunnova Energy to $21 from $25 and keeps a Buy rating on the shares. Sunnova’s Q4 results came in line with guidance but missed estimates, and the company reiterated 2024 customer growth and financial guidance, the analyst tells investors in a research note. The firm views the stock’s recent underperformance as overdone, saying he company’s path to refinancing is laid with organic cash generation and asset sales.