JPMorgan analyst Mark Strouse hosted a call with Sunnova’s founder and CEO in response to a letter issued by Republican members of Congressional Energy Committees last week regarding the company’s loan guarantee with the Department of Energy. The firm said the company full anticipates the DOE loan guarantee will be upheld and maintained, and remains confident in its sales and services practices. JPMorgan, which reiterated an Overweight rating on the stock, added that it sees little risk to Sunnova’s DOE loan guarantee and believes the sell-off in the stock seems overdone.
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