TD Cowen analyst Jeff Osborne maintained a Buy rating on HASI (HASI – Research Report) yesterday and set a price target of $40.00.
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Jeff Osborne has given his Buy rating due to a combination of factors that highlight the strength and potential of HASI’s financial performance. The company’s business model appears resilient against risks associated with the Inflation Reduction Act and tariffs, as their project pipeline consists of initiatives that are either completed or currently under construction. Furthermore, HASI offers an attractive dividend yield of over 6%, which is appealing to income-focused investors.
Another key factor in Osborne’s positive assessment is the company’s robust portfolio yield, which remained stable at 8.3% in the first quarter of 2025. This stability is supported by higher yields on receivables, particularly through their floating rate revolving credit facility with Ameresco. Additionally, HASI’s portfolio growth is bolstered by increased equity method investments, notably through their significant investment in Palmetto HASI Holdings LLC. Palmetto’s involvement in residential solar projects, which account for a substantial portion of HASI’s transactions, further enhances the company’s growth prospects. These elements collectively underpin Osborne’s Buy rating for HASI.
In another report released on May 8, Bank of America Securities also reiterated a Buy rating on the stock with a $39.00 price target.