BofA reinstated coverage of Clearway Energy (CWEN) with a Buy rating and $33 price target The owner and operator of utility-scale solar, storage, wind, and natural gas assets is supported by a 30GW pipeline from its sponsor, Clearway Energy Group, which holds a 41.8% economic stake in the company. This alignment provides a steady flow of drop-down acquisitions from the sponsor that are largely de-risked, providing “a unique element of defensiveness vs the broader sector,” the analyst tells investors.
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Read More on CWEN:
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- CWEN Upcoming Earnings Report: What to Expect?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
