The Globe and Mail reports in its Thursday, Oct. 19, edition that TD Securities analyst Sean Steuart says Brookfield Renewable Partners is his "top pick" in the sector. The Globe's David Leeder writes that as well, Mr. Steuart is keeping his "action list buy" recommendation for Brookfield Renewable intact. The TD stockpicker trimmed his unit target by $6 (U.S.) to $32 (U.S.). Analysts on average target the units at $34.80 (U.S.). Mr. Steuart says independent renewable power producers have "substantially underperformed" regulated utilities and broader indexes over the past four months. Mr. Steuart says in a note: "Since the end of June, share prices of Canadian renewable IPPs have declined 26 per cent, on average. This compares with a 9-per-cent average decline for large-cap Canada-listed utilities. Since the end of Q2/23, the S&P/TSX Composite and S&P 500 have decreased 2 per cent. On average, share prices in our renewable IPP coverage universe are 51 per cent below their recent highs from August, 2022. We believe that recent share-price weakness among renewable IPPs remains chiefly driven by ongoing concerns about interest rates, and also company-specific concerns that include funding constraints."