The Globe and Mail reports in its Wednesday, Jan. 10, edition that National Bank Financial analyst Rupert Merer has named Northland Power a top pick for 2024. The Globe's David Leeder writes that Mr. Merer has reaffirmed his "outperform" call for Northland Power. Mr. Merer boosted his share target by $2 to $34. Analysts on average target the shares at $32. Mr. Merer says in a note: "With sentiment on a downward spiral in 2023, investors were concerned about the ability for IPPs to create value from growth. With new projects delayed by rising costs, price caps in European power markets, and equity dilution to fund growth and poor weather, earnings metrics have stalled in the last few years for the worst performing stocks, [like Northland Power]. The outlook for growth is improving for these companies, where we should see a return to adjusted EBITDA/sh growth for the next three years. This growth is supported by fully funded capacity expansion, normalized weather conditions and inflation." The Globe reported on May 26 and Dec. 19 that Mr. Merer rated Northland "outperform." The shares could then be had for $29.76 and $24.05. The Globe reported on Dec. 8 that RBC rated Northland "outperform." It was then worth $22.66.