Altus Power price target lowered to $10 from $11 at Citi

Citi analyst Ryan Levine lowered the firm’s price target on Altus Power to $10 from $11 and keeps a Buy rating on the shares. The company’s growth outlook visibility "improved materially" post the Inflation Reduction Act, Levine tells investors in a research note. He attributes the recent share selloff to strategic investor sales, delays around solar installation timelines in the industry, cooling of some longer-term inflation expectations, higher corporation overhead, 2023 margin pressure, and lack of liquidity in the stock.