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Fly News Breaks for October 31, 2019
NOVA
Oct 31, 2019 | 15:51 EDT
KeyBanc analyst Sophie Karp said Sunnova Energy has positive momentum on multiple fronts, but the stock is "trading at essentially its replacement value" given that its $846M in net contracted customer value is worth $10.07 per share. The current share price is not factoring contract renewals that she sees being worth about $2.70 per share nor growth in 2020 and beyond, according to Karp, who keeps an Overweight rating and $14 price target on Sunnova shares.