More Targets * National Bank’s Rupert Merer raised his Brookfield Renewable Partners L.P. target to US$42 from US$38 with an “outperform” rating. Other changes include: Desjardins’ Brent Stadler to US$50 rom US$49 with a “hold” rating.
“BEP has deployed $1 billion to date, and appears to be on track to exceed its annual target of deploying $1.0-1.2-billion. BEP is also benefiting from elevated merchant power prices, locking in higher long-term power prices. We continue to see BEP as a core holding in the renewable energy sector, and we are increasing our price target ... to reflect our view that the company is well positioned to grow contracted cash flows and distributions,” said Mr. Kwan.