The Globe and Mail reports in its Friday, May 12, edition that RBC Capital Markets analyst Nelson Ng is keeping his "outperform" call on Innergex Renewable Energy intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ng reduced his share target for Innergex Renewable to $16 from $17. Analysts on average target the shares at $18.67. Mr. Ng says in a note: "Given the company's elevated payout ratio and currently constrained liquidity position, we believe investors will focus on management's near-term initiatives to bolster liquidity (e.g., potential refinancing and asset sales) to fund growth. We are reducing our price target to reflect our view that it could be more difficult for the company to fund future growth." The Globe reported on Feb. 4 that Raymond James had downgraded Innergex to "outperform" from "strong buy." It was then worth $14.27. The Globe reported on March 8 that National Bank Financial analyst Rupert Merer had reaffirmed his "outperform" recommendation for Innergex when it could be had for $14.77.