Brookfield Renewable price target raised to $34 from $33 at JPMorgan

JPMorgan raised the firm’s price target on Brookfield Renewable to $34 from $33 and keeps a Neutral rating on the shares after attending the investor day. The company raised its five-year capital deployment target and stressed confidence in its funds from operations growth targets, supported by a record pipeline, the analyst tells investors in a research note. The firm says Brookfield continues to see strong demand for clean power, particularly from large technology companies, and argued that the cost competitiveness of renewables makes it the first choice before considering alternative forms of generation such as nuclear or natural gas.