Innergex Renewable Energy Inc (INE) Receives C$16.10 Consensus PT from Brokerages

Innergex Renewable Energy Inc (TSE:INE) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$16.10.

INE has been the topic of several research reports. TD Securities upped their price objective on shares of 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. Raymond James Financial upped their price objective on shares of 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 dropped their price objective on shares of Innergex Renewable Energy from C$15.50 to C$15.00 in a report on Thursday, January 11th. Finally, BMO Capital Markets lowered shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$19.00 to C$15.00 in a report on Wednesday, February 7th.

Shares of Innergex Renewable Energy (TSE:INE) traded down C$0.10 during midday trading on Wednesday, hitting C$13.02. 255,612 shares of the stock traded hands, compared to its average volume of 291,388. Innergex Renewable Energy has a 52-week low of C$13.00 and a 52-week high of C$15.72. The firm has a market capitalization of $1,410.00, a price-to-earnings ratio of 52.08 and a beta of 0.22.

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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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