Brookfield Renewable initiated with an Equal Weight at Barclays

Barclays initiated coverage of Brookfield Renewable (BEPC) with an Equal Weight rating and $31 price target The shares have typically traded at a premium to Brookfield Renewable Partners (BEP), likely due to investor preference for C-Corp treatment versus partnership treatment, the analyst tells investors in a research note. The firm says that while a small premium is warranted it is not clear why the premium is as wide as it is today as each Brookfield Renewable exchangeable share is intended to provide the same economic return as Brookfield Renewable Partners.