Clearway Energy (CWEN) has received a new Hold rating, initiated by Evercore ISI analyst, Nicholas Amicucci.
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Nicholas Amicucci has given his Hold rating due to a combination of factors impacting Clearway Energy’s growth prospects. The company faces challenges from prolonged high interest rates, tariff exposure, and changing power preferences, which limit its near-term upside potential. Additionally, policy uncertainty continues to be a significant concern, affecting investment decisions and procurement timelines.
While Clearway Energy has plans for growth through standalone storage and solar energy, these initiatives are not expected to significantly contribute to the portfolio until later in the decade. The preference for less intermittent power sources by large energy users and the current administration has also constrained the growth outlook for traditional renewable energy sources. Despite these challenges, the company’s expertise and the expected increase in energy demand are seen as potential positives, but these are already reflected in the current share price.
In another report released on October 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $32.00 price target.