Altus Power price target lowered to $7 from $9 at Evercore ISI

Evercore ISI lowered the firm’s price target on Altus Power to $7 from $9 and keeps an Outperform rating on the shares following the company’s first analyst day meeting. Altus’ 2026 “financial goalposts” for megawatt growth would translate into $270M-$305M of revenue and $160M-$180M of adjusted EBITDA, which compares to the current 2026 consensus estimates for revenue of $397M and adjusted EBITDA of $240M and was the cause of the negative stock price reaction yesterday, the analyst tells investors. However, consensus only consisted of a handful of analysts with no prior company guidance on how to evaluate its build plan and acquisition growth into 2026, says the analyst, who argues that Altus “stands out in the clean energy universe for its ability to scale its platform through construction and acquisitions” as well as its positive EBITDA generation.