Goldman Sachs initiated coverage of HASI with a Neutral rating and $26 price target. The firm is positive on the company’s long term growth trajectory and diversifying portfolio across a large renewables total addressable market, but it also believes that a higher-for-longer interest rate environment will likely moderate growth in net investment margins over the next couple of years, the analyst tells investors in a research note. Goldman Sachs sees a more modest earnings growth for HASI, forecasting a CAGR of 3% through 2025, the firm adds.
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Read More on HASI:
- HASI initiated with a Buy at Mizuho
- HASI sees annual distributable EPS CAGR 10%-13% from 2021-2024
- Hannon Armstrong reports Q3 distributable EPS 62c, consensus 53c
- Hannon Armstrong options imply 7.1% move in share price post-earnings
- HASI price target lowered to $36 from $50 at B. Riley
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