Why Solar Energy Stocks Finally Had a Good Week
The week finally went well for solar energy investors, with stock values up double digits in many cases. And some of the most beaten-up residential solar stocks are outperforming the market.
According to data provided by S&P Global Market Intelligence, SolarEdge (NASDAQ: SEDG) is up 6.4% this week as of 10:30 a.m. ET, (NASDAQ: RUN) has gained 19.2%, and Sunnova Energy (NYSE: NOVA) is up 34.9%. It was a broad move, but some key companies drove the industry higher.
In separate notes to clients, Goldman Sachs analyst Brian Lee gave a bullish outlook for Sunnova Energy and maintained a $14 price target while Guggenheim analyst Joseph Osha gave the stock a buy rating after meeting with CEO John Berger. In both cases, the analysts thought Sunnova's cash generation potential from selling assets would allow the company to refinance debt that comes due in 2026.
Source Fool.com
