Altus Power upgraded to Overweight at JPMorgan after pullback

As previously reported, JPMorgan analyst Mark Strouse upgraded Altus Power to Overweight from Neutral with an unchanged price target of $10 after the company reported Q3 revenue and EBITDA above expectations and gave FY22 guidance at the lower end of the prior range, which he said was "as expected." With the company "largely tracking expectations," he views the recent pullback in the shares as a buying opportunity ahead of an expected uptick in contracting activity over the upcoming quarters, Strouse tells investors.