The Globe and Mail reports in its Tuesday, Sept. 12, edition that RBC analyst Maurice Choy lowered his share target for regulated utility stock Canadian Utilities to $36 from $40 after introducing his 2025 financial estimates in response to the higher interest rate environment. The Globe's David Leeder writes that analysts on average target Canadian Utilities stock at $37.89. Mr. Choy continues to rate Canadian Utilities "sector perform." Mr. Choy says in a note: "Following the share price underperformance [of utility stocks] over the past three months, we no longer view the regulated utility stock valuations to be elevated, trading at a 25-per-cent P/E premium to the S&P/TSX Composite index, which is in line with the 5- year trailing average, and compares to the 80-per-cent peak after the war began. If/when interest rates come down, the utilities may be favoured again. However, if the market is now looking beyond the short-term macro uncertainty, we believe stocks with the greatest upside relate to companies that investors are most critical of today, being ones that currently utilize DRIP/ATM programs, have stretched balance sheets, and/or have material variable rate debt exposures."