The Globe and Mail reports in its Tuesday, June 2, edition that National Bank Financial analyst Patrick Kenny notes "strengthening" macroeconomic tailwinds for Canadian pipeline and utility companies, driven by increased focus on North American energy security. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny has adjusted his valuations for companies in his coverage universe to reflect this bullish view, while touting a "Strait up premium for energy security." Mr. Kenny says in a note: "Even if and when blockages on the Strait of Hormuz are lifted, we believe the global trade diversification train has left the station, with North America's energy infrastructure companies benefiting from rising international demand for reliable and affordable energy exports, while presenting a generational opportunity for Canada to reach its potential as an energy superpower. ... We are reducing our equity risk premiums embedded in our cost of equity assumptions by 100 bps on average across our coverage list." Mr. Kenny has reaffirmed his "sector perform" recommendation for Atco. He gave his share target a boost to $69 from $62. Analysts on average target the shares at $72.80.