Jeff Osborne, an analyst from TD Cowen, maintained the Hold rating on Sunnova Energy International (NOVA – Research Report). The associated price target was lowered to $3.00.
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Jeff Osborne’s rating is based on a combination of factors including a challenging demand environment and financial constraints faced by Sunnova Energy International. The company is experiencing pressures from slowed asset-backed securities (ABS) activity and a lack of recent transactions in this market, which complicates its cash generation goals. Furthermore, the looming corporate debt maturities in 2026 add a layer of urgency to achieving financial targets.
Additionally, Osborne points to external economic factors such as elevated interest rates and inflation that are impacting Sunnova’s market conditions. The potential for policy changes also creates uncertainty, affecting medium-term outlooks. These combined issues have led to a more cautious stance on the company’s ability to recover and meet its targets, resulting in the Hold rating.
In another report released on February 7, Jefferies also downgraded the stock to a Hold with a $2.00 price target.