The Globe and Mail reports in its Friday, Aug. 4, edition that iA Capital Markets analyst Naji Baydoun has upgraded Capital Power to "buy" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Baydoun is sticking with his $51 share target. Analysts on average target the shares at $50.15. Mr. Baydoun says in a note: "Capital Power offers investors (1) a mix of contracted and merchant cash flows, (2) long-term leverage to the Alberta power market, (3) some growth (low single-digit FCF/share growth through 2027), (4) an attractive income profile (6-per-cent yield, 6 per cent per year dividend growth through 2025, with an 45-55-per-cent payout), and (5) a discounted relative valuation versus IPP peers. Despite Capital Power's elevated exposure to thermal assets and its lower contracted cash flow profile, the company's continued success on new projects and contract extensions has helped it exceed its growth targets and could potentially support an improved growth profile. We are encouraged by Capital Power's success in executing on its growth initiatives and the continued near-term strength in the Alberta power market. ... Overall, we now see a better entry point into Capital Power."