CIBC lowered the firm’s price target on Atlantica Sustainable Infrastructure to $23 from $24.50 and keeps a Neutral rating on the shares. The analyst says a lack of clarity on the timelines and outcome of the company’s ongoing strategic review, which is now in month 13, and general skepticism on a better than expected outcome will “likely cap the stock price for now.” CIBC does not see a need to own Atlantica Sustainable until more clarity on its long-term direction and positioning is seen.
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