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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 11:06 EDT
Roth Capital analyst Philip Shen reiterated a Buy rating on Sunnova Energy (NOVA), called the stock a 2020 top pick, and raised his price target on shares to a Street-high $26 from $19 following the company's "healthy" Q4 results. The analyst noted that Sunnova increased its FY20 guidance "substantially" and is now expecting customer growth at the midpoint of 58% year-over-year, better than prior guidance of 38% year-over-year. Shen sees upside to Sunnova shares as he expects the market to "reward the company with a premium multiple as it grows substantially faster than the industry."
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