Sunnova Energy price target raised to $58 from $51 at Roth MKM

Roth MKM analyst Philip Shen raised the firm’s price target on Sunnova Energy to $58 from $51 and keeps a Buy rating on the shares. The firm sees "substantial value" in the stock given its "number of fundamental tailwinds". The analyst further states that in an interest rate environment that may not have peaked, growth is clearly valued less, and Sunnova’s asset base ends up being valued for less. Roth MKM adds that service customers at Sunnova are being onboarded quickly, and the firm believes that some investors see this as a "lower calorie contribution" to the company’s customer count.