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

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

Utilities Utilities - Independent Power Producers

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

Add To Watchlist

NYSE:BEP - Post Discussion

Brookfield Renewable Partners Non Voting Units > CIBC Upgrade

View:

Post by retiredcf on Apr 23, 2022 10:19am

CIBC Upgrade

Brookfield Renewable Partners LP

We increase our price target to US$41 (previously US$40) following minor forecast updates and a roll forward of our valuation. We value Brookfield Renewable based on a risk-adjusted DCF valuation. We value the current operations and identified, contracted development projects and assign value for potential future growth related to TAM capture based on our expectations of the company’s market share and return potential. For the terminal values, we use EV/EBITDA multiples of 18.0x for the hydro assets and 11.1x for wind and solar (reflecting growth upside and value from asset recycling) applied against our year-10 estimates.

Upside Scenario: US$58 (Previously US$57). Assumes a terminal multiple of 17.0x and a discount rate of 3.6%, reflecting new contracts and M&A.

Downside Scenario: US$20 (Unchanged). Assumes a terminal multiple of 11.3x and a discount rate of 5.3%, reflecting more modest growth and market valuation

416