Baird Raises Price Target on Hannon Armstrong (HASI) to $27; Reiterates Outperform
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Baird reiterated an Outperform rating on Hannon Armstrong (NYSE: HASI), and raised the price target to $27.00 (from $24.00), as the company continues to show sustained growth. Baird believes believe HASI’s broad pipeline protects it from interest rate movements which may impact specific end markets, and HASI’s portfolio diversification reduces overall risk.
Analyst Ben Kallo commented, "Maintain Outperform rating and raising price target to $27 after sustained execution and continued growth. HASI’s recent capital raise should facilitate additional investments utilizing HASI’s ~$2.5B near-term pipeline, and we believe continued government spending on energy efficiency projects, and long-term growth in the U.S. solar and wind markets should add additional opportunities for 2017/2018. We believe HASI is well positioned to expand its portfolio, and continue to recommend buying shares as HASI offers a strong dividend yield with lower-risk investments compared to other renewable yield companies."
Shares of Hannon Armstrong closed at $23.05 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRobert W Baird, Ben Kallo
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