The Globe and Mail reports in its Thursday, Jan. 25, edition that Scotia Capital analysts Andrew Weisel and Robert Hope see valuations for North American utility and power companies as "modestly attractive" heading into earnings season. The Globe's David Leeder writes that Mr. Hope has reaffirmed his "sector outperform" recommendation for AltaGas. Mr. Hope boosted his share target by $2 to $33. Mr. Hope says in a note: "AltaGas is our favourite utility stock as we see it benefitting from: (1) strong utility growth, (2) improving balance sheet and easy-to-execute financing plan, (3) increasingly visible and strengthening midstream growth outlook, and (4) an attractive valuation. There are numerous opportunities in front of its utility business which are driving an above average rate base growth outlook (8-per-cent CAGR out to 2028), while midstream growth appears to be accelerating. We could see several midstream projects sanctioned in 2024, including the Ridley Island Energy Export Facility (REEF) as well as smaller expansions or debottlenecks, which are not included in our estimates or valuation." The Globe reported on Sept. 19 that Mr. Hope kept AltaGas at "sector outperform" when it was worth $27.25.