Clearway Energy -5% as Guggenheim cuts to Sell

|About: Clearway Energy, Inc. Class C (CWEN)|By:, SA News Editor

Clearway Energy (CWEN -5.6%) sinks after Guggenheim downgrades shares to Sell from Neutral with an $11 price target, cut from $17, and lowers its forecast for 2019 EBITDA to $818.6M from $1.07B previously.

Following discussions with CWEN management and key stakeholders, the firm expects the company to announce a dividend cut in the next few days, adding that "at a minimum" the company's cash may be "locked up at the project level for a pronounced period of time."

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