The Globe and Mail reports in its Wednesday, Nov. 12, edition that National Bank Financial analyst Patrick Kenny rates Rockpoint Gas Storage "sector perform" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny set a share target of $26. Analysts on average target the shares at $29.33. Mr. Kenny says in a note: "Considering Rockpoint is the largest, independent pure-play natural gas storage operator in North America, we highlight two major investment themes: (1) Irreplicable assets with scarcity dynamics and high barriers to entry underpinning recurring cash flows while driving an increase in long-term take-or-pay committed contracts backstopped by creditworthy utilities, producers, marketers, financial institutions and global LNG counterparties; and (2) a growing supply/demand natural gas market imbalance across North America, exposing the company to attractive long-term expansion and M&A opportunities. ... Rockpoint is well positioned to capture the benefits of growing natural gas demand from LNG and gas-fired power generation to support data centre growth, re-industrialization and electrification."
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