The Globe and Mail reports in its Friday, June 27, edition that TD Cowen analyst John Mould commenced coverage of Canada's utility sector on Friday, seeing valuations "powered by electricity." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mould says: "We believe that secular electrification trends favour the opportunity set for electric utilities and support premium valuations. We believe jurisdiction is an important differentiator, as some markets are materially more constructive." Mr. Mould rates Fortis "buy," with a $74 share target. Analysts on average target the shares at $69.36. Mr. Mould says in a note: "Fortis scores in the top three in all categories as a result of its group-leading track record and an asset base that is both weighted towards electricity and arguably the most diversified across jurisdictions among the pure-play utilities. We see these characteristics as supportive of a higher valuation." The Globe reported on April 25 that CIBC analysts Mark Jarvi and Robert Catellier rated Fortis "neutral." It was then worth $67.29. The Globe reported on May 7 that Desjardins's Brent Stadler commenced coverage on Fortis with a "hold" recommendation. It was then worth $67.53.