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  5. BEP.UN: Do you prefer BEP or NPI in the renewable space, are they at good entry points. [Brookfield Renewable Partners L.P.]
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Investment Q&A

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Q: Do you prefer BEP or NPI in the renewable space, are they at good entry points. What is your view on NFI and SunRun, again are they at good entry points?

Asked by Timothy on January 27, 2022
5i Research Answer:

We like both but we would side with BEP.UN here given its larger size and support from Brookfield. Better growth is also expected with BEP.UN. NFI manufactures electric busus and RUN provides solar energy solutions. It is difficult to compare two. NFI has a cheaper valuation, but we think the high debt and disappointing sales history are reflected in the valuation. Good growth and profitability is expected in the coming years. RUN is likely a better growth play given its growth track record, but we would consider it a riskier. NFI is better for yield. We would wait for shares to settle before taking a position.