The Globe and Mail reports in its Tuesday edition that National Bank's Baltej Sidhu has reiterated his "outperform" recommendation for Hammond Power Solutions. The Globe's David Leeder writes that Mr. Sidhu's share target soared $45 to $195. Analysts on average target the shares at $179. Hammond's third quarter results were "mixed" compared with expectations, but Mr. Sidhu highlights "transformative tailwinds" and growth in backlog as key to top-line growth. Mr. Sidhu says in a note: "Q3/25 marked a strong rebound in backlog, providing clear support for its forward outlook and which should materialize into sales over the next 1.5 years. Backlog rose 17.6 per cent quarter-over-quarter (vs. Q2 contracting down 8 per cent quarter-over-quarter), driven by a surge in quoting activity to fill capacity at the new Monterrey four facility. Post-quarter orders already account for more than 50 per cent of Q3's backlog, highlighting continued momentum in data centre orders. ... Despite margin compression in Q3, early signs of a positive inflection are emerging. ... With the announced $100-million capacity expansion, primarily directed toward its Line 4 facility, Hammond should be well-positioned to capture incremental demand."