The Globe and Mail reports in its Friday, Feb. 23, edition that BMO Capital analyst Ben Pham continues to rate Innergex Renewable Energy "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Pham lowered his share target to $9 from $10. Analysts on average target the shares at $12.17. Mr. Pham says in a note: "Innergex Renewable Energy's dividend reduction was disappointing but was largely expected with the yield recently rising to 10 per cent. Further, freeing up FCF should better position Innergex Renewable for sustained long-term growth in renewable development, which remains robust. Concurrently, resource conditions are improving, supporting strong Q4/23 results (15-per-cent beat). We believe the attractive valuation and improved balance sheet flexibility more than offset what we anticipate as a transition period in the shareholder base." The Globe reported on Nov. 10 that Mr. Pham had reiterated his "outperform" recommendation for Innergex Renewable when it could be had for $9.20. The Globe reported on Feb. 13 that RBC Capital analyst Nelson Ng had reaffirmed his "sector perform" recommendation for Innergex Renewable. It was then worth $7.83.