NOVA - Analysts take a shine to solar seeing shares at attractive entry point

Analysts are taking note of solar stocks, which have begun to stir in recent weeks from their springtime slump and in some cases approach YTD highs set in January and February.The Invesco Solar ETF (TAN) added 8% last week to reach its highest level since April 29, but the group is still down 18% YTD.Stephens analysts say the group's YTD weakness creates an investment opportunity, and believes the commitment from governments and companies to fight climate change and buy in on the energy transition will underpin future solar demand.The firm starts Sunrun (RUN) at Overweight with an $82 price target, believing the "dominant U.S. residential solar provider" is available at an attractive entry point, while also launching Enphase Energy (ENPH), First Solar (FSLR), SolarEdge Technologies (SEDG) and Sunnova (NOVA) with Overweight ratings.Enphase is the top sector selection at Citi, citing its premium microinverter product and growing energy storage business.Enphase's valuation

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Analysts take a shine to solar, seeing shares at attractive entry point