Hannon Armstrong Sustainable Infrastructure Capital (HASI) saw its stock soar 5.05% in pre-market trading on Friday, despite reporting mixed second-quarter results. The company's adjusted earnings per share came in at $0.60, down from $0.63 a year earlier and below the FactSet analyst consensus of $0.63. However, investors appear to be focusing on the company's long-term prospects rather than the slight earnings miss.

HASI's revenue for the quarter ended June 30 was $85.7 million, down from $94.5 million a year earlier and below the analyst expectations of $91.9 million. Despite the lower-than-expected results, the company reaffirmed its long-term guidance, projecting adjusted EPS to grow at a compound annual rate of 8% to 10% through 2027, relative to the 2023 baseline of $2.23 per share. This projection equates to a midpoint of $3.15 per share in 2027, slightly below the FactSet analyst consensus of $3.17.

Wall Street remains largely bullish on HASI, with the current average analyst rating on the shares being "buy". Out of the analysts covering the stock, 14 rate it as "strong buy" or "buy," while 2 maintain a "hold" rating. The median 12-month price target stands at $39.00, representing a potential upside of about 37.5% from its last closing price. This optimistic outlook, combined with the company's maintained quarterly cash dividend of $0.42 per share, may be contributing to the stock's significant rise despite the mixed earnings report.