Analyst Robert Kad of Morgan Stanley reiterated a Buy rating on Brookfield Renewable Partners, boosting the price target to $38.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Robert Kad has given his Buy rating due to a combination of factors that highlight Brookfield Renewable Partners’ strategic positioning in the renewable energy sector. One significant factor is BEP’s 10.8% equity interest in Westinghouse, a major player in the nuclear services industry. This stake is becoming increasingly valuable as nuclear power generation gains traction globally, providing BEP with a meaningful driver of incremental unitholder value.
Additionally, the recent partnership with the US government to construct eight Westinghouse AP1000 nuclear reactors presents a substantial growth opportunity. This project is expected to significantly boost BEP’s earnings over the next decade, with each reactor contributing considerable EBITDA. Furthermore, Robert Kad’s analysis indicates a fair value estimate of $38 per share, suggesting a potential upside of 36.8% over the next year, reinforcing the Buy recommendation.
In another report released on November 6, TD Cowen also maintained a Buy rating on the stock with a $35.00 price target.