The Globe and Mail reports in its Wednesday, April 10, edition that National Bank Financial analyst Rupert Merer has reaffirmed his "outperform" recommendation for Innergex Renewable Energy and his Street-high share target of $15. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $11.06. Mr. Merer lowered his earnings expectation for Innergex Renewable due to "mixed" weather. However, he thinks its first quarter results "should not disappoint" the Street. Mr. Merer says in a note: "With a warm winter across North America, hydro production in Q1E looks strong, but wind production was a little weaker. The month of March appears to have been a bit softer, and with that, we are now modeling EBITDA at $167-million (was $177-million, cons. $163-million). With production at 93 per cent of the LTA, the run rate for the company should be higher and consensus forecasts for Q1E seem conservative. Although the snow pack is low for this time of year, we believe it is too early to predict Q2E (but we model 85 per cent of LTA for B.C.) and that Innergex Renewable is on track for its guidance of $725-million to $775-million for '24."