NBC upgrades independent power producers, calls them safer than most havens

TransAlta Renewables

13/03/2020 10:07

** National Bank of Canada (NBC) upgrades independent power
producers, says their stocks are safer than most havens
    ** Names Innergex Renewable Energy  INE.TO , Northland Power
 NPI.TO , TransAlta Renewables  RNW.TO  and Boralex  BLX.TO  as
top picks
    ** Moves all names under coverage to "outperform", citing
attractive returns and low-risk profile when compared with the
rest of the market
    ** NBC adds recent sector selloff is consistent with the
market, with stocks down ~30% on average
    ** Believes market interest in climate-friendly
infrastructure will rebound after COVID-19     
    ** While we can't call the bottom on valuation, we can
highlight the opportunity for investors to target contracted
returns of 7%-10% for most of large-cap stock - NBC 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com))