S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
On Friday, Jefferies analyst Julian Dumoulin-Smith adjusted the price target for Hannon Armstrong (NYSE:HASI), a company specializing in climate solutions, to $36.00 from the previous $37.00, while reiterating a Buy rating on the shares. According to InvestingPro data, analyst targets for HASI range from $31 to $48, with the company currently appearing undervalued based on comprehensive Fair Value analysis.
The analyst noted that as investors approach fourth-quarter earnings with caution, especially within the clean energy sector due to anticipated downward revisions, Hannon Armstrong stands out. The company may be one of the few within its peer group to promise consistent growth. Hannon Armstrong's fourth-quarter performance surpassed expectations, and the company's projection of 8-10% compounding growth through 2027 has been well-received. InvestingPro data reveals the company has maintained dividend payments for 12 consecutive years, with a current dividend yield of 5.94% and a healthy 5.06% dividend growth in the last year.
The analyst further mentioned that the company's recent achievements, including inbounds on potential co-investments akin to its partnership with KKR, reinforce the strength and validity of Hannon Armstrong's strategic approach. This has led to an increase in adjusted earnings per share (EPS) estimates for the near term, with InvestingPro showing a strong current ratio of 8.25 and positive financial health indicators. Dumoulin-Smith highlighted that Hannon Armstrong appears to have minimal exposure to the Inflation Reduction Act (IRA), which is seen as a positive factor in the company's financial outlook. For deeper insights into HASI's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
The maintained Buy rating indicates that Jefferies continues to see Hannon Armstrong as a favorable investment, despite the slight reduction in the price target. The analyst's comments suggest confidence in the company's growth trajectory and strategic partnerships, which are expected to contribute to its performance in the renewable energy sector.
In other recent news, HA Sustainable Infrastructure Capital, Inc. has announced a reshuffling of its executive team, bolstering its strategic focus. The company also released its financial results for the fourth quarter and full year ending December 31, 2024. In the realm of analyst notes, Truist Securities initiated coverage on Hannon Armstrong Sustainable Infrastructure Capital, Inc. with a Buy rating and a price target of $40.00, while RBC Capital Markets adjusted its price target down to $38.00 from $40.00, maintaining an Outperform rating. On a similar note, Citi analyst Vikram Bagri upgraded the rating for HA Sustainable Infrastructure Capital from Neutral to Buy, setting a price target of $36.00. These are the recent developments that investors should take note of.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.