Innergex Renewable Energy (TSE:INE) Rating Lowered to Market Perform at BMO Capital Markets

Innergex Renewable Energy (TSE:INE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, February 7th. They currently have a C$15.00 target price on the stock, down from their previous target price of C$19.00. BMO Capital Markets’ price objective points to a potential upside of 14.33% from the stock’s current price.

A number of other equities research analysts have also recently commented on INE. Raymond James Financial increased their target price on Innergex Renewable Energy from C$18.50 to C$19.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. CIBC lowered their target price on Innergex Renewable Energy from C$15.50 to C$15.00 in a report on Thursday, January 11th. Finally, TD Securities increased their target price on Innergex Renewable Energy from C$15.00 to C$15.50 and gave the company a “hold” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$16.10.

Shares of Innergex Renewable Energy (TSE:INE) remained flat at $C$13.12 during trading hours on Wednesday. 169,885 shares of the company’s stock were exchanged, compared to its average volume of 282,263. The stock has a market cap of $1,420.00, a price-to-earnings ratio of 52.48 and a beta of 0.22. Innergex Renewable Energy has a one year low of C$13.06 and a one year high of C$15.72.

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About Innergex Renewable Energy

Innergex Renewable Energy Inc is a Canada-based renewable power producer. The Company is a developer, owner and operator of renewable power-generating facilities with a focus on hydroelectric, wind power and solar photovoltaic (PV) projects. It operates through four segments: hydroelectric generation, wind power generation, solar power generation and site development.

Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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