Jefferies analyst Julien Dumoulin-Smith initiated coverage of Clearway Energy with a Buy rating and $35 price target. Clearway is a renewable infrastructure owner that “stands out with consistent, steady, reliable growth amidst a peer backdrop of missed targets and downward revisions,” the analyst tells investors in a research note. The firm believes the company can reach its 5%-8% dividend growth target through 2026 without corporate capital needs, while contracting upside in California “could further extend the runway.”
