Brookfield Renewable Partners price target lowered to $32 from $33 at National Bank

National Bank lowered the firm’s price target on Brookfield Renewable Partners (BEP) to $32 from $33 and keeps an Outperform rating on the shares. Given the unusually dry conditions in Colombia, the Eastern U.S. and Canada, the firm is forecasting lower generation of 3,920 GWh in its hydro portfolio, though despite this weakness, National Bank’s EBITDA and FFO/unit forecasts remain relatively flat at $622M, the analyst tells investors in a research note.