The Globe and Mail reports in its Tuesday, Sept. 1, edition that TD Cowen analyst John Mould has reaffirmed his "hold" recommendation for Algonquin Power & Utilities. The Globe's David Leeder writes that Mr. Mould continues to target the shares at $6 (all figures U.S.). Analysts on average target the shares at $6.81. Mr. Mould sees Algonquin Power's $126.5-million sale of its 64-per-cent ownership stake in Chilean water utility Suralis to an asset manager in the South American company as a "slightly positive" development for its shares. Mr. Mould says in a note: "While small relative to Algonquin's scale (net Suralis EV = approximately 2 per cent of Algonquin EV), we believe Suralis stood out as a non-core asset. As Algonquin's only utility in South America, we view the strategic rationale for divesting this asset as clear. Suralis's pending sale reduces country risk, modestly simplifies the portfolio, and provides some incremental liquidity and deleveraging. ... "Management has not specified parameters regarding potential portfolio optimization options, preferring to maintain flexibility and the ability to be opportunistic. We acknowledge Algonquin could consider additional utility divestitures."