Clearway Energy upgraded to Outperformer from Neutral at CIBC

CIBC analyst Mark Jarvi upgraded Clearway Energy to Outperformer from Neutral. There was a fairly wide divergence in individual performance in the Power & Utility sector through a "choppy/challenging 2022" and he believes the same elements will again guide outperformance this year given the uncertain macro and equity market outlook in 2023, Jarvi tells investors. In that context, he prefers names that "can best straddle defensive underpinnings with tangible growth," the analyst said.