Citi analyst Vikram Bagri maintains $Sunnova Energy International (NOVA.US)$ with a buy rating, and adjusts the target price from $14 to $10.
According to TipRanks data, the analyst has a success rate of 26.1% and a total average return of -23.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Sunnova Energy International (NOVA.US)$'s main analysts recently are as follows:
The projection for Sunnova Energy has been adjusted due to considerations surrounding the alternative energy sector's Q3 performance. The analyst notes that the varying levels of caution reflected in the residential solar segment's guidance may result in differing outcomes. Attention is drawn to the absence of an expected increase in European residential solar activity post-summer. The focus is shifting towards battery storage and domestic content orders as emerging areas of competition. Preferences for alternative energy companies may vary depending on the outcome of the upcoming November election, with different companies poised to benefit under Democratic or Republican victories.
The U.S. Clean Energy sector is heading into its third-quarter results amidst a complex backdrop, marked by the election cycle, fluctuating interest rates, evolving trade policies, and a competitive landscape. This has led to a variety of outcomes and a generally bearish sentiment among investors. Ahead of the November election, the potential for significant gains is perceived to be limited, with risks seen as mainly negative. Challenges such as competition among solar installers and project postponements for large-scale utility operators are expected to constrain cash generation opportunities.
Note:
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