Solar Stocks Enphase, Sunnova Jump On Upgrade. Why Analyst Sees Upside After Rough Year.

Solar stocks ENPH and NOVA rose after an analyst upgraded them to a buy rating. The analyst cited potential for improved performance in both stocks. ENPH stock increased more than 3% and NOVA stock gained over 5% in morning trading. Last year, the residential solar market faced challenges due to rising interest rates. The solar group has also struggled in 2024, with a collective 16% decline. Truist believes that NOVA will report customer additions toward the high end of its range. ENPH’s earnings delivery on Feb. 6 could positively impact its stock if market commentary is favorable.