Globe & Mail today The Globe and Mail reports in its Tuesday edition that National Bank analyst Rupert Merer has reaffirmed his "outperform" recommendation for Northland Power. The Globe's David Leeder writes in the Eye On Equities column that Mr. Merer gave his share target a $2 boost to $32. Analysts on average target the shares at $31.83. The Globe says Mr. Merer sees investor sentiment toward Northland Power "shifting." He is predicting a "solid" fourth quarter, emphasizing the importance of lower interest rates as well as "continued progression" at its Hai Long offshore wind project in Taiwan and Baltic Power joint venture project in Poland. Mr. Merer says in a note: "With financing closed on Baltic Power and Hai Long, investor focus has shifted to construction execution. ... With contractors and suppliers secured and a history of solid execution on large offshore builds, we believe Northland should deliver $15.5-billion (including partner's share) of construction projects by the end of 2026, representing more than $500-million (net) in adjusted EBITDA annually. Northland is also making progress in its onshore portfolio, with its Oneida battery facility to come online in 2025, and 1.2 GW of solar in Alberta progressing."
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