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Analysts Are Bullish on These Utilities Stocks: Brookfield Renewable Partners (BEP), TransAlta (TAC)

Tipranks - Tipranks - Wed Aug 5, 12:22PM CDT

There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Brookfield Renewable Partners (BEP) and TransAlta (TAC) with bullish sentiments.

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Brookfield Renewable Partners (BEP)

TD Cowen analyst Sean Steuart maintained a Buy rating on Brookfield Renewable Partners today and set a price target of $39.00. The company’s shares closed last Tuesday at $33.18.

According to TipRanks.com, Steuart is a 4-star analyst with an average return of 7.1% and a 53.1% success rate. Steuart covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Mercer International, and Clearwater Paper. ;'>

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Brookfield Renewable Partners with a $38.13 average price target, implying a 14.2% upside from current levels. In a report issued on July 21, Morgan Stanley also maintained a Buy rating on the stock with a $42.00 price target.

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TransAlta (TAC)

In a report released today, John Mould from TD Cowen reiterated a Buy rating on TransAlta, with a price target of C$26.00. The company’s shares closed last Tuesday at $12.64.

According to TipRanks.com, Mould is a 4-star analyst with an average return of 14.7% and a 70.2% success rate. Mould covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Fortis, and Emera. ;'>

TransAlta has an analyst consensus of Strong Buy, with a price target consensus of $17.39, implying a 39.3% upside from current levels. In a report issued on July 24, RBC Capital also maintained a Buy rating on the stock with a C$24.00 price target.

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