CIBC lowered the firm’s price target on Brookfield Renewable Partners (BEP) to $30 from $31 on updated debt values/assumptions, while keeping an Outperformer rating on the shares. The firm does not believe Brookfield Renewable Partners’ share price performance and current valuation reflects its ability to deliver consistent results and deliver on its growth objectives. CIBC thinks Brookfield Renewable Partners is one of the best-positioned firms to navigate tariffs/U.S. policy changes in terms of organic growth and could be opportunistic on M&A. Further, it does not believe the company gets enough credit for the Microsoft (MSFT) arrangement and remains confident on its funding options/plans.
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