Brookfield Renewable price target raised to $38 from $34 at JPMorgan

JPMorgan analyst Mark Strouse raised the firm’s price target on Brookfield Renewable (BEPC) to $38 from $34 and keeps an Overweight rating on the shares as part of a Q2 preview for the clean energy group. The near-term outlook remans “murky” for utility-scale renewables, despite solid power demand and passage of the One Big Beautiful Bill, the analyst tells investors in a research note. The firm believes the July 7 Executive Order directing the Treasury Department to review safe harbor guidelines by August 21 could have a larger impact on the utility-scale renewables market. Project visibility could also be limited by new permitting processes at the Department of Interior, adds JPMorgan.