Bullboard - Stock Discussion Forum Brookfield Renewable Partners Non Voting Units BEP

Alternate Symbol(s): BRENF | T.BEP.P.G | T.BEP.P.M | T.BEP.P.R | T.BEP.UN

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Brookfield Renewable Partners L.P. is a Bermuda-based globally diversified, multi-technology, owner and operator of clean energy and sustainable solutions assets. The Company’s segments include hydroelectric, wind, utility-scale solar and distributed energy, and storage, which includes distributed generation and pumped storage, sustainable solutions, and corporate. Its sustainable solutions... see more

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Brookfield Renewable Partners Non Voting Units > iA Capital

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Post by retiredcf on Mar 25, 2022 8:14am

iA Capital

Mr. Baydoun (iA Capital) downgraded Brookfield Renewable Partners LP to “hold” from “buy” with a US$45 target. The average is US$40.46.

“The shares have appreciated 15 per cent year-to-date, outperforming peers; this has driven the relative valuation gap with peers to elevated levels, making the shares less attractively valued, in our view,” he said. “Although we see the potential for BEP’s shares to deliver strong growth, we are electing to take a more neutral stance on the shares given the (1) 20 per cent and 45 per cent relative valuation premium to peers compared to (1) 10 per cent and 30 per cent one year ago, and (2) 20 per cent historically (based on forward P/FCF and EV/EBITDA metrics, respectively), and (2) limited upside to our price target. Finally, the recent decision to not pursue the potential acquisition of AGL Energy Limited (AGL-A, Not Rated) also removes a near-term large-scale investment opportunity and growth catalyst for the shares.”

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