Citi analyst Vikram Bagri initiated coverage of HASI with a Neutral rating and $24 price target. HASI is a specialty finance play structured as a real estate investment trust focusing on investments in proven climate solutions projects, the analyst tells investor sin a research note. The firm’s more cautious near to medium term view is a result of the company’s dependence on equity markets. Near-term dividend growth targets are achievable, but long-term consensus growth assumptions appear too high, says Citi.
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