Analyst Dimple Gosai from Bank of America Securities reiterated a Buy rating on HASI (HASI – Research Report) and keeping the price target at $39.00.
Dimple Gosai has given his Buy rating due to a combination of factors including the resilience of HASI’s portfolio and pipeline amidst macroeconomic and policy uncertainties. The company’s first-quarter results exceeded expectations, and it maintained its target for an 8-10% adjusted EPS compound annual growth rate through 2027. This stability is attributed to the majority of its opportunities being under construction and minimal exposure to tariffs, as emphasized by key customers like AES and Clearway. Additionally, HASI’s strategic asset-level approach has protected it from challenges faced by residential solar originators, with residential transactions constituting a significant portion of its first-quarter activities.
Another reason for the Buy rating is the positive momentum in HASI’s investment vehicle, CCH1, which has surpassed $1 billion in funding and extended its term to the fourth quarter of 2026. The potential for a subsequent CCH2 vehicle provides confidence in future funding strategies. The use of modest leverage in CCH1 is expected to enhance portfolio yields and improve return on equity and earnings per share in the coming years. Furthermore, HASI’s competitive positioning benefits from macro and political uncertainties, with competitors exiting the market, reinforcing the Buy rating and a price objective of $39.
Gosai covers the Technology sector, focusing on stocks such as First Solar, SolarEdge Technologies, and Array Technologies. According to TipRanks, Gosai has an average return of -12.3% and a 40.63% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $40.00 price target.