Boralex (TSE:BLX) Price Target Lowered to C$42.00 at CIBC

Boralex (TSE:BLX) had its target price lowered by CIBC from C$43.00 to C$42.00 in a report published on Friday,BayStreet.CA reports.

A number of other brokerages have also issued reports on BLX. Raymond James upped their target price on shares of Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price on shares of Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Cormark increased their price target on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boralex presently has a consensus rating of “Buy” and an average price target of C$43.38.

Boralex Stock Performance

Boralex stock opened at C$31.80 on Friday. The company has a market capitalization of C$3.27 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a 12-month low of C$26.25 and a 12-month high of C$36.68. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The firm’s fifty day moving average price is C$34.16 and its 200 day moving average price is C$33.19.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.