Breaking News

Evercore ISI analyst James West initiated coverage of Sunrun with an Outperform rating and $87 price target. The "clear U.S. residential solar market leader" has a solar as a service model that provides recurring, contracted revenue, said West. The analyst, who sees Sunrun having scale advantages in "a massively underpenetrated market," added Sunrun to the firm's Best SMID Long Term "Core" Ideas in conjunction with the initiation of the stock.

Evercore ISI analyst James West initiated coverage of Sunnova Energy with an Outperform rating and $52 price target. Sunnova is a "rapidly growing" residential solar company that is expanding into a "massive" total addressable market as U.S. residential solar systems become increasingly common, West tells investors in a research note. The analyst says the company has a "differentiated" third-party dealer model and he expects its EBITDA to increase at a 76% rate annually through the end of 2025.

Evercore ISI analyst James West initiated coverage of Plug Power with an Outperform rating and $42 price target. Plug's recent commercial developments are a "prescient move" to become a global leader in the generation, liquefaction, and distribution of green hydrogen, West tells investors in a research note. The analyst sees "significant value" in the shares at current levels. He views Plug Power as a "strong company with a defensible and growing business with long-term franchise value."

Evercore ISI analyst James West initiated coverage of Enphase Energy with an Outperform rating and $184 price target. The company has a a dominant position in the U.S. residential microinverter market and is well positioned to benefit from "strong" solar installation market growth, West tells investors in a research note. The analyst believes the market is underappreciating Enphase's expanding revenue opportunity its continues to take share in the U.S. residential market, expands its international presence, and enters the U.S. commercial and residential storage markets.

Wells Fargo analyst Michael Blum initiated coverage of Plug Power with an Equal Weight rating and $30 price target. Plug has an an established market presence and "visible" growth trajectory in the fuel cell material handling business with potential for accelerated growth if its hydrogen initiatives achieve commercially success, Blum tells investors in a research note. However, much of the potential growth from hydrogen commercialization is already reflected in the current stock price, says the analyst.