Boralex Inc. (TSE:BLX) Receives C$23.71 Average Price Target from Brokerages

Shares of Boralex Inc. (TSE:BLX) have received an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$23.71.

A number of equities analysts have recently commented on BLX shares. BMO Capital Markets raised their price objective on Boralex from C$22.00 to C$23.00 in a report on Wednesday, June 26th. CIBC raised their price objective on Boralex from C$23.50 to C$24.00 in a report on Wednesday, June 19th. Raymond James restated an “outperform” rating and issued a C$26.00 price objective on shares of Boralex in a report on Friday, August 9th. Finally, TD Securities raised their price objective on Boralex from C$22.00 to C$24.00 in a report on Wednesday, July 17th.

Shares of Boralex stock traded up C$0.03 during trading hours on Wednesday, reaching C$20.45. The stock had a trading volume of 102,426 shares, compared to its average volume of 219,715. The firm has a 50 day simple moving average of C$19.99 and a two-hundred day simple moving average of C$19.09. The firm has a market capitalization of $1.82 billion and a price-to-earnings ratio of -143.80. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 436.91. Boralex has a 1 year low of C$15.96 and a 1 year high of C$20.56.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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