Morgan Stanley Upgrades Clearway Energy Inc. (CWEN) to Overweight

Morgan Stanley analyst Robert Kad upgraded Clearway Energy Inc. (NYSE: CWEN) from Equalweight to Overweight with a price target of $36.00 (from $25.00).

The analyst comments: "We are raising our rating to Overweight (from Equal-weight); our new price target of $36 (up from $25) implies +43.4% one-year total return, including a 6.7% forward dividend yield. We see upside to current guidance through 2026 and several pathways for growth in 2027+ (wind repowering, battery storage colocation, higher Resource Adequacy contract pricing, sponsor dropdowns) that remain underappreciated at current valuation. We see potential for favorable post-2026 guidance issuance with 3Q24 that could catalyze the stock."

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 $26.33 yesterday.

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