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Brookfield Renewable Partners LP (NYSE:BEP) is included among the 10 Best Renewable Energy Stocks to Buy According to Billionaires.

Brookfield Renewable Partners LP (NYSE:BEP) operates one of the world’s largest publicly traded platforms for renewable power and decarbonization solutions. The company’s diversified portfolio of hydro, wind, solar, distributed energy, storage, and sustainable solutions spans five continents, totaling over 47.3 GW of generating capacity.

On May 29, Scotiabank upped its price target on Brookfield Renewable Partners LP (NYSE:BEP) from $36 to $42, while maintaining an ‘Outperform’ rating on the shares. The target boost indicates an upside of 15% from the current levels.

According to Scotiabank, there are “numerous strong tailwinds evident” for Brookfield Renewable. Moreover, the analyst highlighted the company’s massive scale, strong access to capital, and established relationships with hyperscales as key competitive advantages, allowing it to secure attractive opportunities and ensure long-term growth.

Brookfield Renewable Partners LP (NYSE:BEP) delivered a record FFO of $375 million or $0.55 per share in its Q1 report last month, up 15% YoY, benefiting from the company’s diverse global fleet, growth activities, and scaling capital recycling. However, its revenue fell by over 4% YoY to $1.51 billion and fell below Wall Street estimates. Notably, Brookfield ended the quarter with over $4.7 billion of available liquidity, allowing the company substantial flexibility to invest into growth opportunities.

While we acknowledge the potential of BEP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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