Altus Power (AMPS) Upgraded to Strong Buy: Here's What You Should Know

Core Viewpoint - Altus Power, Inc. (AMPS) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive earnings outlook that could favorably impact its stock price [1][2]. Earnings Outlook - The Zacks Consensus Estimate for Altus Power for the fiscal year ending December 2024 is projected at $0.18 per share, reflecting a significant change of 460% from the previous year's reported figure [5]. - Over the past three months, the Zacks Consensus Estimate for Altus Power has increased by 110.3%, indicating a strong upward trend in earnings estimates [5]. Zacks Rating System - The Zacks rating system is based on changes in earnings estimates, which are a strong predictor of near-term stock price movements [3][4]. - Stocks rated Zacks Rank 1 have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of the system [4]. - The upgrade of Altus Power to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [7].