Altus Power gains after announcing review of strategic alternatives
** Shares of Altus Power AMPS.N 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
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