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Clearway Energy (CWEN) Gets a Buy from RBC Capital

Tipranks - Tipranks - Fri Jan 23, 8:16PM CST

RBC Capital analyst Nelson Ng maintained a Buy rating on Clearway Energy on January 21 and set a price target of $38.00. The company’s shares closed yesterday at $35.80.

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Ng covers the Utilities sector, focusing on stocks such as Northland Power, Boralex Inc Cl A, and Brookfield Renewable Partners. According to TipRanks, Ng has an average return of 8.0% and a 57.73% success rate on recommended stocks.

Currently, the analyst consensus on Clearway Energy is a Strong Buy with an average price target of $39.57, implying a 10.53% upside from current levels. In a report released on January 16, TipRanks – Google also reiterated a Buy rating on the stock with a $37.00 price target.

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Based on Clearway Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $429 million and a net profit of $236 million. In comparison, last year the company earned a revenue of $486 million and had a net profit of $36 million

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