Octopus Renewables Infrastructure trust downgraded by Stifel after NAV fall

With a share price of 102p, the trust sat a 5% discount to the net asset value (NAV) per share at the end of March, which was 107.7p, according to Stifel. Analysts at Stifel said that they did not "see scope for a rerating to NAV given the tougher outlook for renewables this year and the risk of further downside surprises". The drop in NAV was at the "higher end of the range" of first quarter falls in NAV seen so far across the renewables sector, the analysts said. The biggest impact was a -2.9p hit to NAV per share from lower power price forecasts primarily over 2023 to 2025. S...