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Morgan Stanley Maintains Sunnova Energy International(NOVA.US) With Hold Rating, Cuts Target Price to $12

Moomoo News ·  Oct 15, 2024 13:31  · Ratings

Morgan Stanley analyst Andrew Percoco maintains $Sunnova Energy International (NOVA.US)$ with a hold rating, and adjusts the target price from $13 to $12.

According to TipRanks data, the analyst has a success rate of 42.6% and a total average return of -5.2% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Sunnova Energy International (NOVA.US)$'s main analysts recently are as follows:

  • The firm notes that cash generation for Sunnova Energy is typically lower this quarter, yet anticipates that the company's financial outlook for 2024 and 2025 will stay consistent.

  • The firm observes that as the earnings season overlaps with U.S. elections, investors may want to exercise caution regarding new investments or bolstering existing positions, instead focusing on 'relative value'. Although a complete reversal of the Inflation Reduction Act is seen as unlikely, policy uncertainty could arise with a Republican victory in the presidential race and congressional gains. Despite the company's significant positive sensitivity to declining interest rates, which contributed to a strong performance in Q3, the forecast for further rate reductions is more uncertain.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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