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Clearway Energy downgraded to Neutral on valuation at CIBC

CIBC downgraded Clearway Energy (CWEN) to Neutral from Outperformer with an unchanged price target of $35. The firm cites valuation for the downgrade with the shares up 30% since early January. CIBC believes a growth acceleration or more visibility on the path forward beyond 2027 could push the stock higher.

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