Net Power downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Net Power (NPWR) to Underweight from Equal Weight with a price target of $2, down from $3. The firm cites escalating tariffs and inflation risk for the downgrade. The uncertain environment created by escalating tariffs and inflation “pose a massive headwind” to Net Power’s immediate objective of lowering costs, the analyst tells investors in a research note. The firm says this makes it more challenging to recover from the “dramatic increase” in capex of the first utility-scale project announced with last quarter’s earnings, which was penalized heavily by the market.