11:10 AM EDT, 05/06/2024 (MT Newswires) -- RBC is reiterating its Outperform rating on Brookfield Renewable, and raising its target to US$31 (from US$29) on further upside potential to the share price as investors assess the market opportunity for renewable developers given the accelerating demand from AI and data centers.

While management has previously highlighted the significant demand from big tech, the large renewables framework agreement with Microsoft demonstrates the company's ability to leverage its scale and global footprint to capitalize on the opportunity, RBC said.

Price: 35.99, Change: +0.65, Percent Change: +1.84