Altus Power (AMPS) Upgraded to Buy: Here's Why

Core Viewpoint - Altus Power, Inc. (AMPS) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook on its earnings potential, which is expected to positively influence its stock price [1][2]. Earnings Estimates and Revisions - The company is projected to earn $0.28 per share for the fiscal year ending December 2024, reflecting a significant year-over-year increase of 660% [5]. - Over the past three months, the Zacks Consensus Estimate for Altus Power has risen by 217%, indicating a strong upward trend in earnings estimates [5]. Impact of Institutional Investors - Changes in earnings estimates are closely correlated with stock price movements, as institutional investors adjust their valuations based on these estimates, leading to buying or selling actions that affect stock prices [3]. Zacks Rank System - The Zacks Rank system classifies stocks based on earnings estimate revisions, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [4]. - Altus Power's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [7].