The Globe and Mail reports in its Thursday, Nov. 6, edition that RBC Capital Markets analyst Maurice Choy has reaffirmed his "sector perform" recommendation for Fortis. The Globe's David Leeder writes in the Eye On Equities column that Mr. Choy gave his share target a $7 boost to $79. Analysts on average target the shares at $72.33. Mr. Choy says in a note: "Fortis continues to benefit from the favourable energy demand growth trends across its diverse utility footprint, which underpin its improved 7-per-cent five-year rate base CAGR [compound annual growth rate], with perhaps more to come including in Arizona to accommodate load growth associated with potential data centers. Along with its hallmark balanced funding plan that supports its long-term credit objectives, consistent annual dividend increases (marking 52 consecutive years of increases with its latest 4-per-cent announcement), we anticipate the company's stock remains a cornerstone regulated utility and/or defensive position across many investor portfolios." The Globe reported on Feb. 19 that Mr. Choy was sticking with his "sector perform" recommendation for Fortis. The shares could then be had for $62.51.