RE:Credit SuisseHere's their rationale. GLTA
“On balance, we do like BLX’s ability to gradually grow the business and execute with a manageable degree of risks,” he said. “Given the company’s size, individual project wins can translate into a significant valuation impact, in our view. The team’s positioning, duration and credibility combined with an overall favourable backdrop for many renewable developers should collectively be supportive of value creation potential. With our NAV-driven methodology, we await either a better entry point or greater clarity on a variety of value-surfacing opportunities from the growth pipeline.”