Altus Power price target lowered to $6 from $7 at B. Riley

B. Riley lowered the firm’s price target on Altus Power to $6 from $7 and keeps a Buy rating on the shares. Altus Power hosted its first Analyst Day and made a compelling case for the company’s macro tailwinds, ability to maintain its leading position in the commercial and industrial solar market, and continued strong economics, the analyst tells investors in a research note. The three-year guidance through 2026 reflects slower growth in portfolio additions and revenue/EBITDA, which are expected to grow at a 20%-25% CAGR, the firm says.