Sunnova Energy shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $13 to $26.
Portfolio Pulse from Benzinga Newsdesk
Sunnova Energy's stock (NOVA) is trading higher following an upgrade from Piper Sandler, changing its rating from Neutral to Overweight and increasing the price target from $13 to $26.
December 19, 2023 | 5:49 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Piper Sandler upgraded Sunnova Energy (NOVA) from Neutral to Overweight and raised the price target from $13 to $26, indicating a positive outlook on the stock.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest a better-than-previously-expected performance of the company. The doubling of the price target from $13 to $26 by Piper Sandler is a significant change that reflects a strong conviction in the company's future growth and profitability. This upgrade is likely to instill confidence in investors and could lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100