Citi Upgrades HA Sustainable Infrastructure Capital (HASI) to Buy

Citi analyst Vikram Bagri upgraded HA Sustainable Infrastructure Capital (NYSE: HASI) from Neutral to Buy with a price target of $36.00.

The analyst comments "Last year proved tumultuous for the sector as commodity, regulatory and political changes weighed on the stocks. To make things worse, several guidance cuts led to heightened volatility and lower investor confidence. Companies with “go get” revenues found it more difficult to achieve annual targets. Looking ahead, utility scale companies are better positioned with achievable consensus estimates and stronger BS. Especially, as demand for clean energy in datacenter/AI, robust interconnection queue, and attractive economics provide some insulation from potential policy changes. We remain cautious on residential solar largely due to dependence of companies on incentives and relatively weaker financial flexibility. Notably, we are downgrading SEDG to Sell due to its tight liquidity, challenging earnings outlook, and competition. We are upgrading HASI to Buy as it is more insulated from potential policy changes. Finally, we put a negative catalyst watch on GNRC as guidance for FY25 should disappoint."

For an analyst ratings summary and ratings history on HA Sustainable Infrastructure Capital click here. For more ratings news on HA Sustainable Infrastructure Capital click here.

Shares of HA Sustainable Infrastructure Capital closed at $27.63 yesterday.

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