The Globe and Mail reports in its Friday, June 7, edition that Desjardins Securities analyst Brent Stadler reduced discount rates for independent power producers by 50 basis points in response to the Bank of Canada's interest rate cut on Wednesday, which led him to increase his share for Boralex to $44 from $42. The Globe's David Leeder writes in the Eye On Equities column that Boralex is a "top pick" for Mr. Stadler. Analysts on average target the shares at $39.30. Mr. Stadler says in a note: "Our discount rate reduction reflects the BOC rate cut (25 basis points), improved investor sentiment and expectations of one additional cut this year. We are still of the view that IPPs that have increased return hurdles to reflect the current environment and that have been able to sign PPAs or deploy capital at these returns have been investing in very attractive projects, which should become even more accretive to NAV if rates continue to move lower. We maintain our pecking order (Boralex, Capital Power and Innergex Renewable Energy) and our positive sector outlook." The Globe reported on May 1 that Mr. Stadler was keeping his "top pick" designation for Boralex intact. It was then worth $27.63.