Investment Q&A

 Please see our comments yesterday regarding what is minimal exposure for these companies operations in the US here. National Bank has also highlighted this: "The worst case scenario in the U.S. for companies building renewable power infrastructure could be a cut to the tax credits made available under the U.S. IRA and an increase to import tariffs that could impact solar panels and transformers (among other things). The net result could be to cause delays and drive up the cost of construction for new infrastructure." The actual prescence of these companies operations in the US is key here while the analyst also pointed out that it is  not 100% clear if Trump would cut tax credits on renewables. We think NPI is a hold/buy off the recent pullback.