JPMorgan downgraded Brookfield Renewable Partners (BEP) to Neutral from Overweight with a price target of $28, down from $36, after reinstating coverage following a period of restriction. The analyst believes the company’s diversified portfolio and proven execution justify a premium valuation compared to peers, which is properly reflected in the current stock price. Within its downstream coverage, the firm prefers Altus Power (AMPS), Hannon Armstrong (HASI), Sunnova (NOVA), and Sunrun (RUN).
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