The Globe and Mail reports in its Friday, Nov. 25, edition that though there has been a recent sell-off in utilities alongside a general decline in defensive and income-oriented stocks, Desjardins Securities analyst Mark Jarvi is maintaining a "fairly positive" view on the sector. The Globe's David Leeder writes in the Eye On Equities column that Mr. Jarvi commenced new coverage on Fortis with a "buy" rating and $46 share target price. Analysts on average target the shares at $49.10. Mr. Jarvi says in a note: "Overall, while the sector might face headwinds through year-end (eg uncertainty on a potential rate hike in December by the Fed, sector rotation, rising bond yields), we believe that at some point investors will return to fundamental analysis. In that context, owning companies that can deliver growth in rate base, earnings, cash flow and dividends and which have manageable risk (operating, regulatory, financing) is where we believe investors should be positioned in this sector." GlobeInvest Capital Management chief executive officer Christine Poole recommended buying Fortis in The Globe on Oct. 3. Fortis shares were then going for $42.19.