Clearway Energy Inc. (CWEN) Management Meetings Show Clear Line of Sight to $1.90 in EPS

Oppenheimer analyst Noah Kaye reiterated an Outperform rating and $44.00 price target on Clearway Energy Inc. (NYSE: CWEN) after hosting the CFO, Chad Plotkin, for a series of investor meetings.

The analyst stated "With the Utah Solar acquisition and Pinnacle repowering completed in 4Q21, and the Thermal divestiture on track to generate $1.3B of net proceeds in 1H22, management indicated strong line of sight to $1.90/sh. CAFD near term, supporting targeted 5-8% DPS growth over our investment horizon. Longer term, excess Thermal proceeds should enhance financial flexibility to meet growth targets through 2026 via sponsor dropdowns and third-party M&A. We believe commentary affirmed CWEN’s positioning as a quality and materially improving portfolio play on renewables growth, one relatively well-insulated against industry-wide project delays and inflationary pressures, and view cleantech's recent sell-off as presenting opportunity."

For an analyst ratings summary and ratings history on Clearway Energy Inc. click here. For more ratings news on Clearway Energy Inc. click here.

Shares of Clearway Energy Inc. closed at $33.86 yesterday.

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