Evercore starts coverage on Altus Power with 'outperform' rating

Altus Power

04/01/2023 12:16

** Altus Power Inc  AMPS.N  stands out in clean energy
universe for its "positive EBITDA generation", Evercore ISI
says, as it initiates coverage on stock with "outperform" rating
and $15 PT
    ** Many of the companies in the clean energy universe are
"targeting to become EBITDA-positive in 2025 or 2026", says
brokerage
    ** Altus has the ability to increase rates across a majority
of its contracts as utility rates continue to rise - Evercore
    ** "AMPS will leverage its key relationships with Blackstone
and CBRE to finance and accelerate growth while also benefiting
from a low cost of customer acquisition, especially when
compared to the solar industry" - Evercore
    ** 5 of 6 brokerages rate the stock "buy" or higher, 1
"hold"; median PT is $12.50 - Refinitiv
 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))