Clearway Energy price target lowered to $34 from $38 at Oppenheimer

Oppenheimer lowered the firm’s price target on Clearway Energy to $34 from $38 and keeps an Outperform rating on the shares. The firm cites valuation trends and industry-wide asset timing considerations. With $1.4B in total liquidity at end-Q2 and visibility into full allocation of $750M excess Thermal proceeds, Clearway remains in a strong position to meet 2026 DPS growth targets without external equity, Oppenheimer says. Given industry-wide asset COD timing dynamics, the firm is anticipating some push-out of contributions from growth investments, but continues to see the portfolio cash flows providing support for DPS growth.