FBR Capital Starts Hannon Armstrong (HASI) at Outperform

February 19, 2014 6:52 AM EST
Get Alerts HASI Hot Sheet
Price: $19.30 -1.43%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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FBR Capital initiates coverage on Hannon Armstrong (NYSE: HASI) with a Outperform. PT $20.00.

Analyst Aditya Satghare comments: "We expect Hannon Armstrong to lead the industry in new financing structures in its core energy efficiency asset class while rapidly diversifying its portfolio into on-site renewable generation and other infrastructure-type assets. In our opinion, the convergence of energy efficiency and on-site generation should effectively double the company’s potential addressable market, and we estimate that this, coupled with an under-levered balance sheet and expanding net interest margins, should drive annual dividend growth of 20% over the next three to five years. Energy efficiency as an asset class is still in the very early stages of development, offering low loss rates and limited interest rate risk, and we believe that Hannon Armstrong should provide a strong diversification benefit to both specialty finance and other yield-oriented investors."

For an analyst ratings summary and ratings history on Hannon Armstrong click here. For more ratings news on Hannon Armstrong click here.

Shares of Hannon Armstrong closed at $14.05 yesterday.

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