The Globe and Mail reports in its Wednesday, Oct. 18, edition that National Bank Financial analyst Rupert Merer has reaffirmed his "sector perform" recommendation for Algonquin Power & Utilities. The Globe's David Leeder writes in the Eye On Equities column that Mr. Merer gave his share target a $1 trim to $8.50 (all figures U.S.). Analysts on average target the shares at $8.67. The Globe says Mr. Merer believes uncertainty surrounding the sale of Algonquin Power's renewable energy business is likely to overshadow the release of "soft" third quarter results. Mr. Merer says in a note: "The process to sell AQN's renewable assets is well underway, though we believe a transaction is unlikely in the near term. A sale of its 42-per-cent stake in [Atlantica Sustainable Infrastructure] is also on the table, but also with limited visibility on timing. AQN should use the proceeds of asset sales to lower its leverage, targeting approximately 13 per cent FFO/debt, but the majority could go to share buybacks. The value of the asset sold and the buyback price would determine the level of EPS accretion. However, at this point, it is not certain that there will be a transaction or what the terms of the deal would be."