Added to YB: 2023-12-19
Pitch date: 2023-12-19
AMPS [bullish]
Altus Power, Inc.
-25.74%
current return
Author Info
Company Info
Altus Power, Inc., a clean electrification company, develops, constructs, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems in the United States.
Market Cap
$800.5M
Pitch Price
$6.72
Price Target
12.00 (+140%)
Dividend
N/A
EV/EBITDA
19.55
P/E
605.73
EV/Sales
12.02
Sector
Independent Power and Renewable Electricity Producers
Category
growth
Q323 Update on Altus Power AMPS
$AMPS thriving in solar despite rates; stock $4-$7 in '23, beat $NOVA $ENPH $SEDG. 721MW Q3 '23, 863MW YE target (+83% YoY). 60% margins via Blackstone debt & tax equity. '24: M&A 1200-1300MW, community solar, AltusIQ. Undervalued, $12 if initiatives succeed, $165m '24 EBITDA. Low EV/EBITDA vs 60% margin & recession-proof biz. Author may 2x to 30% if <$4.5, sees '24 upside as rates ease
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