The Globe and Mail reports in its Friday edition that Stifel analyst Cole Pereira has restated his optimistic perspective on the Canadian energy infrastructure industry. The Globe's David Leeder writes that Mr. Pereira, however, cautions that the recent change in interest rate expectations has impacted valuations negatively as we head into earnings season. In a research report released Thursday, he expressed a preference for companies featuring strong return on invested capital and "solid per-share growth rates that should reinforce long-term dividend growth." Mr. Pereira continues rate Tidewater Midstream and Infrastructure "hold." He gave his share target a 35-cent trim to 90 cents. Analysts on average target the shares at $1.19. Mr. Pereira says in a note: "Share price performance year-to-date has been mixed for our large and mid-cap coverage names, ranging from [Gibson Energy] up 13 per cent to [TC Energy] down 6 per cent vs. the TSX Composite up 4 per cent. ... On the small-cap side, [Tidewater Renewables] is down 7 per cent YTD while [Tidewater Midstream] is down 29 per cent. ... The delay in interest rate cut expectations has been a drag on valuations. ... We would use [any] pullback opportunistically."