The Globe and Mail reports in its Thursday edition that National Bank Financial analyst Baltej Sidhu has reaffirmed his "outperform" recommendation for Northland Power. The Globe's David Leeder writes that Mr. Sidhu lowered his share target to $24 from $23. Analysts on average target the shares at $22.71. Mr. Sidhu says in a note: "We acknowledge that there will be a transitional period in the shareholder base. While investor frustration and sentiment overhang on the shares are warranted, we continue to see fundamental value embedded in the stock over the next 12 to 18 months. We believe the new management team is introducing an additional layer of capital discipline to the organization, which is likely to elicit elements of change to its culture. Initial discussions with investors focused briefly on the dividend cut, but quickly shifted to the recovery path, growth outlook and the broader strategic direction the executive team is steering the company toward. The dividend cut, as a refresher, resulted from a confluence of factors and was deemed by as the most value-accretive option over the next five to 10 years. With two large offshore wind projects, the company will not put its investment-grade rating at risk."