The Globe and Mail reports in its Wednesday, Jan. 10, edition that National Bank Financial analyst Rupert Merer has named Innergex Renewable Energy a top pick for 2024. The Globe's David Leeder writes that Mr. Merer has reaffirmed his "outperform" recommendation for Innergex. Mr. Merer boosted his share target by $1.25 to $17. Analysts on average target the shares at $14.44. Mr. Merer says he is expecting lower interest rates. As well, he thinks this year is "shaping up to be much better" for sustainable energy and clean technology stocks following a "volatile" 2023. He points to "recession-resistant characteristics and visibility on growth initiatives across the sector." Mr. Merer says in a note: "The year 2023 was marked by headwinds for the renewable energy and clean tech sectors. Despite the global commitment to the energy transition, the industry faced a confluence of challenges. Supply chain disruptions, exacerbated by lingering effects of the pandemic and geopolitical tensions, led to shortages and increased costs for critical components. Additionally, policy and regulatory uncertainties in key markets created a hesitant investment climate. Financing challenges were further compounded by inflation."