Sunnova Energy price target lowered to $31 from $39 at KeyBanc

KeyBanc analyst Sophie Karp lowered the firm’s price target on Sunnova Energy to $31 from $39 to reflect lower projected NPV/share, while keeping an Overweight rating on the shares. The firm notes Sunnova reported Q2 results that came in below its and consensus expectations. That said, the company reiterated its full year guidance across all metrics and raised its customer growth targets for 2023, which is now reflected in KeyBanc’s model.