Brookfield Renewable Energy (BEP) PT Raised to $31 at BMO Capital

BMO Capital analyst Ben Pham raised the price target on Brookfield Renewable Energy (NYSE: BEP) to $31.00 (from $30.00) while maintaining a Outperform rating.

The analyst commented, "BEP units have come under pressure since the U.S election results given the market's concern that its U.S. growth initiatives and returns could be coming down.
However, BEP does not expect material impact given its focus on corporate offtakes and low-cost production which are more insulated from government subsidies. Furthermore, BEP believes its Westinghouse business is well positioned for the increasing demand for nuclear power, including smaller-scale SMRs. With this resiliency and favorable growth backdrop, we maintain Outperform rating and target to US $31 (vs. US$30)."

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