Brookfield Renewable Partners price target raised to $35 from $33 at CIBC

CIBC raised the firm’s price target on Brookfield Renewable Partners (BEP) to $35 from $33 and keeps an Outperformer rating on the shares. The firm says Brookfield Renewable Partner remains a preferred name in its coverage. The company is benefiting from accelerating demand for clean energy, expanding customer/stakeholder relationships, and a differentiated platform including nuclear exposure/capabilities. The solid Q3 results, and constructive update on capital deployment and funding, reinforces CIBC’s views it can deliver double-digit FFO growth and offers a strong total return proposition.