HASI initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of HASI with a Neutral rating and $26 price target. The firm is positive on the company’s long term growth trajectory and diversifying portfolio across a large renewables total addressable market, but it also believes that a higher-for-longer interest rate environment will likely moderate growth in net investment margins over the next couple of years, the analyst tells investors in a research note. Goldman Sachs sees a more modest earnings growth for HASI, forecasting a CAGR of 3% through 2025, the firm adds.