Brookfield Renewable Partners Non Voting Units BEP

Analyst update RBC

[TeamCommonSense]

Maurice Choy

* Brookfield Renewable Partners LP (BEP-N, BEP.UN-T) with an “outperform” rating and US$31 target. Average: US$31.11.

Analyst: “Management continues to see strong corporate demand for renewable energy, particularly from the big tech companies. Management estimates that 50 per cent of its contracted generation will be with C&I customers in five years, up from 30 per cent currently. Management highlighted that eight of the top ten corporate buyers of clean energy are currently Brookfield customers, and more than 90 per cent of its 200 GW development pipeline is in the top ten data centre markets globally. The company’s ability to execute and deliver renewable energy in scale is highlighted by the 10 GW framework agreement signed with MSFT in early 2024.”

[ol_griz]

So anybody with any insight as to why this is tanking?  I am down almost 7% in a couple of weeks.  And I 've been averaging down since June. I can't see that this would be a big tax loss seller or a short target, unless the market thinks the business case is going to be screwed by Trump.  Thoughts?

[ol_griz]

Just saw that National Bank cut the target by $1 - but that's USD.  Still well above where we are now - almost $46 CAD, in fact.