A proven track record of success gives Hannon Armstrong a leg up over its peers, according to Baird.
The firm reiterated its outperform rating of Hannon Armstrong on Tuesday, naming it a bullish fresh pick.
Organized as a REIT, Hannon Armstrong specializes in providing financing for sustainable infrastructure projects in the form of debt and equity capital.
Additionally, a competing investment firm's recent reduction of Hannon Armstrong's dividend growth outlook may have also contributed to the sell-off.
HASI YTD mountain HASI YTD chart "This frustration and bearish sentiment for broader renewables sector growth outlook in the near term have compounded weakness and led to shares being oversold in our view," he wrote.
Persons:
Hannon Armstrong, Baird, Ben Kallo, Hannon, — CNBC's Michael Bloom