Clearway Energy, the Utilities sector company, was revisited by a Wall Street analyst yesterday. Analyst Dimple Gosai from Bank of America Securities reiterated a Buy rating on the stock and has a $38.00 price target.
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Dimple Gosai has given his Buy rating due to a combination of factors that highlight Clearway Energy’s strong growth potential and strategic positioning. The company is expected to achieve a 7-8% annual growth in cash available for distribution per share from 2025 through 2030, with estimates for 2026-2027 slightly increased. This growth trajectory is supported by pipeline conversion and a favorable mergers and acquisitions environment, suggesting potential upside beyond management’s targets.
Additionally, Clearway Energy’s focus on interconnection over safe harbor is paving the way for a robust multi-gigawatt build rate, with a largely de-risked capital plan for 2027-2029. The company is also well-positioned for a post-2030 deflationary cycle due to improvements in scale and product design. Furthermore, Clearway’s engagement with hyperscaler power purchase agreements and its integration of flexible gas solutions are expected to contribute to long-term growth, reinforcing its competitive edge in the sector.
In another report released on December 2, Morgan Stanley also maintained a Buy rating on the stock with a $50.00 price target.