The Globe and Mail reports in its Friday, Nov. 1, edition that National Bank Financial analyst Patrick Kenny has reaffirmed his "outperform" recommendation for Capital Power. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny jacked his share target up by $9 to $56. Analysts on average target the shares at $50.60. The National Bank stockpicker says in a note: "The company's strategic expansion into key U.S. markets is paying dividends with rising capacity factors at its U.S. natural gas-fired facilities as power demand continues to rise and baseload thermal capacity remains largely stagnant. With an average weighted contract length of five and seven years, the company is in discussions to extend U.S. facility contracts well ahead of previous timelines with new terms expected to reflect the heightened value of dispatchable facilities in addition to upgrade/expansion opportunities. Meanwhile, in Canada, the Genesee repowering project remains on time and within budget ($1.55-billion to $1.65-billion) to achieve combined cycle in Q4/24, while CPX is working toward developing up to 1.5 GW of additional capacity at the facility to accommodate potential data centre customers."