UBS Raises Price Target on Hannon Armstrong (HASI) to $27; Reiterates Buy

September 14, 2016 9:41 AM EDT
Get Alerts HASI Hot Sheet
Price: $19.13 +1.00%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS reiterated a Buy rating on Hannon Armstrong (NYSE: HASI), and raised the price target to $27.00 (from $22.00). HASI continues to develop new relationships and deepen existing financing partnerships. The company's securitization platform and access to capital markets provide ample capacity to execute on its $2.5B investment pipeline to drive earnings growth.

Analyst Julien Dumoulin-Smith commented, "We are raising our price target to $27 from $22 to reflect the rolling forward of our dividend estimate basis and earnings clarity into 2017 based on what we view as readily achievable guidance, and a substantially more resilient model to originations than renewable peers, seeing the bulk of its pipeline (~55% from energy efficiency projects). We see HASI as among the most defensive plays in the wider YieldCo space, given not only debt amortization, and established ongoing access to a wide variety of principally industrial companies for financial product."

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 $23.10 yesterday.

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