Boralex (BLX) Downgraded to Hold at Industrial Alliance Securities

Boralex (TSE:BLX) was downgraded by equities researchers at Industrial Alliance Securities from a “buy” rating to a “hold” rating in a report released on Friday. They presently have a C$25.00 price target on the stock. Industrial Alliance Securities’ target price indicates a potential upside of 4.87% from the company’s current price.

Several other analysts have also commented on BLX. Canaccord Genuity increased their price objective on Boralex from C$25.00 to C$26.00 in a report on Thursday, January 11th. National Bank Financial increased their price objective on Boralex from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday. TD Securities increased their price objective on Boralex from C$25.00 to C$26.00 in a report on Monday, November 13th. BMO Capital Markets reiterated an “outperform” rating and set a C$25.50 price objective on shares of Boralex in a report on Thursday, October 19th. Finally, CIBC increased their price objective on Boralex from C$24.50 to C$25.00 in a report on Monday, November 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Boralex has an average rating of “Buy” and an average target price of C$25.39.

Shares of Boralex (TSE:BLX) traded down C$0.28 on Friday, hitting C$23.84. The stock had a trading volume of 132,306 shares, compared to its average volume of 151,986. Boralex has a 12-month low of C$19.11 and a 12-month high of C$25.03. The stock has a market cap of $1,830.00, a price-to-earnings ratio of -264.89 and a beta of 0.09.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, November 10th. The company reported C($0.22) EPS for the quarter, beating the consensus estimate of C($0.24) by C$0.02. Boralex had a negative return on equity of 9.56% and a negative net margin of 34.67%.

In other news, Director Marie Giguère bought 3,000 shares of Boralex stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average price of C$22.18 per share, for a total transaction of C$66,540.00.

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About Boralex

Boralex Inc is a power producer that develops, constructs and operates renewable energy power stations. The Company’s segments include wind, hydroelectric, thermal and solar. It operates an asset base with a capacity of approximately 1,260 megawatts (MW), of which over 1,090 MW are under its control, consisting of approximately 490 MW in Canada, over 520 MW in France and over 80 MW in the Northeastern United States.

Analyst Recommendations for Boralex (TSE:BLX)

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