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Atlantica Sustainable upgraded at BofA after strategic review launched
The Fly

Atlantica Sustainable upgraded at BofA after strategic review launched

As previously reported, BofA analyst Julien Dumoulin-Smith upgraded Atlantica Sustainable Infrastructure (AY) to Buy from Neutral with a price target of $32, up from $29, after the company recently announced that its board of directors commenced a process to explore and evaluate potential strategic alternatives that may be available to Atlantica to maximize shareholder value with the support of largest shareholder Algonquin Power (AQN). The firm, which has updated its estimates for FY22 results and guidance for FY23, says shares offer "healthy growth at a palatable valuation relative to peers with interesting upside ahead from the strategic review."

Published first on TheFly

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