The Globe and Mail reports in its Friday, Aug. 4, edition that Raymond James analyst David Quezada has reaffirmed his "outperform" recommendation for Fortis. The Globe's David Leeder writes in the Eye On Equities column that Mr. Quezada shaved his share target by $3 to $62. Analysts on average target the shares at $60.11. Mr. Quezada says in a note: "Central to our constructive view on Fortis are the company's diversified North America footprint, solid 6-per-cent rate base growth and several meaningful growth opportunities that could represent upside to the current capital plan. We are reducing our target with a lower assumed 20 times 2024 P/E multiple consistent with multiple contraction among peers." The Globe reported on Oct. 20 that Mr. Quezada had upgraded Fortis to "outperform" from "market perform." The shares could then be had for $51.37. The Globe reported on Jan. 28 that National Bank Financial analyst Patrick Kenny rated Fortis "sector perform." The shares were then going for $54.67. The Globe's regular columnist Gordon Pape recommended buying Fortis on May 16. The shares could then be had for $61.32.