Brookfield Renewable Partners LP

BEP.UN: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 37.00	Mxj	Dhwlfltqs

Brookfield Renewable Continues to Grow Energy Transition Investments; Raise FVE to $36

Brett Castelli

Aug 8, 2022

We raise our fair value estimate for Brookfield Renewable to $36 (CAD 46.50) per share from $34 (CAD 44) following its second-quarter results. The primary drivers of our increase are higher power prices for its U.S. hydro portfolio and increasing our terminal multiple for upside potential from U.S. policy. We also update our Uncertainty Rating to Medium from High given the company's largely contracted portfolio and diversification.

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