Raymond James recapped in a note to investors earlier today the firm’s takeaways about the solar industry vis-a-vis the incoming Trump administration and Congress following the webinar with Sunnova’s CEO and head of government relations that the firm had hosted last Friday. The kneejerk selloff in clean tech stocks across the board is reflective of fears about the durability of federal tax credits, says the firm, which adds “We look at these fears as overblown, and Sunnova agrees.” However, it is accurate to say that interest rate escalation throughout the past month and right after the election has added to headwinds in the cost of capital, the firm added. Raymond James maintains a Strong Buy rating on Sunnova shares.
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