Alliance Global Partners has commenced coverage of SolarBank (SUUN, Financial) with a positive outlook, assigning a Buy rating and setting a price target of $4.75. The company is engaged in the development, construction, and management of solar energy assets across the United States and Canada.
The investment firm's analysis suggests that SolarBank is strategically positioned to expand its operations within various green energy sectors. This growth potential is attributed to the company's established track record in the solar sector. Alliance Global Partners highlights that upcoming expansion into the Independent Power Producer segment, along with planned significant entry into the rapidly growing Battery Energy Storage Systems and data center markets, could drive further growth for SolarBank.
