From Financial Modeling Prep: 2024-11-25 11:54:00

Clearway Energy (NYSE:CWEN) saw a 2% increase in shares as BofA Securities initiated coverage with a Buy rating and $33 price target. The company owns solar, storage, wind, and natural gas assets with a 30GW development pipeline from sponsor Clearway Energy Group, providing steady drop-down acquisitions and defensiveness in the renewable energy sector.

Analysts note Clearway’s advantage, with only 3-4% of the sponsor’s pipeline needing to reach commercial operation annually for sustained growth. This visibility into long-term expansion potential supports the optimistic outlook and Buy recommendation for the company.



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