Raymond James Reiterates Strong Buy Rating on Brookfield Renewable Energy (BEP)

Raymond James analyst Frederic Bastien reiterated a Strong Buy rating and $33.00 price target on Brookfield Renewable Energy (NYSE: BEP)

The analyst comments "Brookfield Renewable and Google jointly announced this morning they will collaborate on the delivery of up to 3,000 MW of hydroelectric capacity across the US. This development represents the world’s largest corporate deal for hydro power, which dovetails nicely with last year’s framework agreement to deliver over 10 GW of renewable power to Microsoft. If these arrangements do not underscore BEP’s position as a partner of choice to the largest buyers of clean power globally, we simply don’t know what will. With its well-diversified portfolio 90% contracted for an average 14 years, strong uptake from corporate buyers and near limitless access to capital, we are confident BEP can extend its leadership position in a rapidly changing landscape for renewable energy. Strong Buy."

For an analyst ratings summary and ratings history on Brookfield Renewable Energy click here. For more ratings news on Brookfield Renewable Energy click here.

Shares of Brookfield Renewable Energy closed at $25.58 yesterday.

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