Brookfield Renewable Partners Non Voting Units BEP

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BMO’s Ben Pham raised his Brookfield Renewable Partners LP  to US$42, above the US$40.89 average, from US$38 with an “outperform” rating.

“While total potential return is more modest to our new US$42 target price (vs. US$38), many of the other companies in our coverage have also rallied hard and BEP’s premium valuation appears justified by the above-average growth, scale, long-life hydro assets, and BAM sponsorship,” said Mr. Pham. “Given those positive trends that will likely sustain this year, we are maintaining our Outperform rating.”