The Globe and Mail reports in its Thursday, Jan. 8, edition that National Bank Financial analyst Baltej Sidhu has upgraded Algonquin Power and Utilities to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Sidhu gave his share target a 50-cent boost to $7.50 (all figures U.S.). Analysts on average target the shares at $6.75. Mr. Sidhu says a "turnaround story is underway" at Algonquin. Mr. Sidhu says in a note: "Despite Algonquin being up 38 per cent in 2025, vs. regulated utility peers up 20 per cent, we do believe share price strength should continue. We believe there is greater potential for upside than downside in our current rate base assumptions. We currently forecast a rate base CAGR [compound annual growth rate] of 5 per cent, which reflects back-end weighted capital expenditures, as the company prioritizes operational excellence, cost structure optimization and narrowing the gap between earned and allowed ROE. As Algonquin continues to deliver on these initiatives and progressively transition toward a more disciplined rate base capex cycle (better aligned with regulatory schedules), we are of the view that estimates should trend higher through the back-half of our forecast horizon."