The Globe and Mail reports in its Saturday, Nov. 15, edition that RBC Dominion Securities analyst Nelson Ng has reaffirmed his "outperform" recommendation for Northland Power. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ng lowered his share target to $27 from $28. Analysts on average target the shares at $25.83. Mr. Ng notes that investor confidence in Northland's management has been "shaken" by a 40-per-cent dividend cut and a projected 50- to 60-per-cent shortfall in precompletion revenues for the Hai Long offshore wind project. However, despite a drop of over 27 per cent on Thursday which wiped out virtually all market gains this year, Mr. Ng sees value in shares of one of Canada's leading renewable energy operators, which are trading at a discount to his "conservative" estimates of its operating assets and projects under construction. Mr. Ng says in a note: "Management explained that the 40-per-cent dividend reduction was a strategic step aimed at supporting long-term growth through a fully self-funded growth model ... While the messaging and timing of the dividend cut is not ideal, we have always felt that the company should cut the dividend by at least 30 per cent."