The Globe and Mail reports in its Friday, Aug. 23, edition that National Bank Financial analyst Patrick Kenny adjusted his share target prices for Canadian pipeline, utility and energy infrastructure companies on Monday, anticipating that lower interest rates would support valuations. The Globe's David Leeder writes that Mr. Kenny has reaffirmed his "outperform" recommendation for Capital Power. He gave his share target a $3 boost to $47. Analysts on average target the shares at $44.30. The Globe says Mr. Kenny sees dividend yield spreads "offering further valuation torque." He says in a note, "With further doubt cast upon the 'soft landing' macroeconomic outlook scenario as sluggish data continues to emerge, and the 10-year GCAN rate having pulled back 50 basis points since the end of Q1/24, now hovering back down around 3 per cent, we have updated our cost of capital assumptions in line with our economics and strategy group's recently revised interest rate forecast." The Globe reported on Nov. 30 that Mr. Kenny rated Capital Power "outperform." The shares were then worth $36.90. The Globe reported on Aug. 21 that Desjardins's Brent Stadler had reaffirmed his "buy" call for Capital Power, which was then worth $43.70.