BUZZ-Altus Power gains after announcing review of strategic alternatives

Reuters

2024-10-16

** Shares of Altus Power rise 16.3% to $3.53 premarket

** Co on Tuesday announced that a formal review of strategic alternatives has been underway by its board

** Review aims to assess and determine the strategic alternatives that will unlock shareholder value and optimize access to capital, AMPS said

** "The ongoing disconnect between the share price and our view of intrinsic value gives Board confidence that exploring alternative ownership structures is a prudent course to maximize value" - Christine Detrick, Chair of Altus Power

** Co reaffirms its guidance for fiscal year 2024

** AMPS expects the process to be completed by first half of 2025

** 7 out of 9 brokerages rate AMPS "buy" or higher, 2 "hold"; median is $5.5 - LSEG data

** As of last close, stock down about 56% YTD

(Reporting by Sukriti Gupta)

((Sukriti.Gupta@thomsonreuters.com;))

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median is $5.5 - LSEG data</p><p>   ** As of last close, stock down about 56% YTD</p><p>(Reporting by Sukriti Gupta)</p><p>((Sukriti.Gupta@thomsonreuters.com;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2475396142","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475396142","pubTimestamp":1729078415,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of Altus Power    rise 16.3% to $3.53 premarket   ** Co on Tuesday announced that a formal review of strategic alternatives has been underway by its board    ** Review aims to assess and determine the strategic alternatives that will unlock shareholder value and optimize access to capital, AMPS said   ** \"The ongoing disconnect between the share price and our view of intrinsic value gives Board confidence that exploring alternative ownership structures is a prudent course to maximize value\" - Christine Detrick, Chair of Altus Power   ** Co reaffirms its guidance for fiscal year 2024   ** AMPS expects the process to be completed by first half of 2025   ** 7 out of 9 brokerages rate AMPS \"buy\" or higher, 2 \"hold\"; 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