Sunnova Rises After Roth Capital Boosts Price Target

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Sunnova Rises After Roth Capital Boosts Price Target
Credit: © Reuters.

By Christiana Sciaudone

Investing.com -  Sunnova Energy rose 8% Monday after Roth Capital boosted its price target on the stock. 

The solar energy service provider’s price target was raised to $28 from $22, The Fly reported, citing Roth Capital analyst Philip Shen, who kept a buy rating on the stock. Sunnova should see faster growth than peers, and for the company to reach the premium multiples seen at Sunrun Inc (NASDAQ: RUN ) and Vivint Solar (NYSE: VSLR ).  

The Houston-based company has eight buys and no holds or sells, with an average price target of $23.31, according to analysts tracked by Investing.com.

Sunnova reports earnings on Wednesday. Shares have more than tripled since March. 

 

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  • Zakhele Mhlaba @Zakhele Mhlaba
    Closed The Buy Position at 5am
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