Baird Starts Sunnova (NOVA) at Outperform

Baird analyst Ben Kallo initiates coverage on Sunnova (NYSE: NOVA) with a Outperform rating and a price target of $15.00.

The analyst comments "NOVA is a residential solar and energy storage service provider serving ~68k customers across 20+ U.S. states and territories. We see a path to long-term customer and top-line growth, enabled by a growing resi solar market, additions to NOVA’s dealer network, and introduction of new products. Additionally, we think the reliance on a 100% dealer model could be a key differentiating factor, reducing overhead costs and potentially enabling operating leverage."

For an analyst ratings summary and ratings history on Sunnova click here. For more ratings news on Sunnova click here.

Shares of Sunnova closed at $11.21 yesterday.

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