The Globe and Mail reports in its Friday, Sept. 23, edition that Raymond James analyst David Quezada says the utilities sector has begun a significant structural change. The Globe's David Leeder writes in the Eye On Equities column that Mr. Quezada began coverage on Fortis ($42.57) with an "outperform" rating. Mr. Quezada targets the shares at $50. Analysts on average target the shares at $48.22. Mr. Quezada says in a note: "We regard Fortis as a premier diversified Canadian utility and a core defensive holding within the broader energy infrastructure sector. Our constructive stance is primarily based on our view of Fortis's low risk business and solid growth opportunities supporting an attractive risk adjusted return. Further, we believe the stock's current valuation discount to the Canadian utility peer group is unwarranted and expect it will normalize over time." The Globe's Jennifer Dowty was keen on Fortis on June 13. She said the stock could climb about 9 per cent over the next year. The shares were then worth $41.86. The Globe's Rob Carrick recommended buying Fortis on Sept. 21. Mr. Carrick said he liked Fortis's strong dividend growth rate. The shares could then be had for $42.29.