Brookfield Renewable Partners upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Brookfield Renewable Partners (BEP) to Overweight from Neutral with an unchanged price target of $30. The company’s leading access to capital positions it to accelerate investment in projects and its scale and diversification “provide a relative safe haven in the sector,” the analyst tells investors in a research note. The firm says demand for de-risked, operational assets from low cost capital organizations is strong, supporting Brookfield’s expectation that fiscal 2024 capital recycling will reach record levels.