RE:Revised TargetsBMO comments. GLTA
“The Q4/23 earnings report illustrates improved renewable production trends (101 per cent of LTA vs. 98 per cent last year) and a continued robust growth backlog (three new projects added totalling 162MW). At the same time, the development pipeline was boosted 5 per cent and 290MW of projects are expected to be commissioned this year (9 per cent vs. 3,078MW existing capacity). Combined with undemanding valuation (approximately 10.5 times vs. renewable peers ranging from 10-17 times) and strong balance sheet/conservative balance sheet, we’re maintaining our Outperform rating,” said Mr. Pham.