National Bank Financial Lowers Boralex (BLX) Price Target to C$26.00

Boralex (TSE:BLX) had its price target lowered by National Bank Financial from C$27.00 to C$26.00 in a research note issued on Wednesday. The firm presently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 13.14% from the company’s current price.

A number of other analysts have also recently issued reports on BLX. BMO Capital Markets reissued an “outperform” rating and issued a C$25.50 price objective on shares of Boralex in a research note on Thursday, October 19th. Raymond James Financial raised their target price on shares of Boralex from C$24.50 to C$26.00 in a research note on Tuesday, October 24th. CIBC raised their target price on shares of Boralex from C$24.50 to C$25.00 in a research note on Monday, November 13th. TD Securities raised their target price on shares of Boralex from C$25.00 to C$26.00 in a research note on Monday, November 13th. Finally, Canaccord Genuity raised their target price on shares of Boralex from C$25.00 to C$26.00 in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$25.28.

Shares of Boralex (TSE BLX) traded down C$0.03 during midday trading on Wednesday, hitting C$22.98. 343,400 shares of the stock were exchanged, compared to its average volume of 165,541. The stock has a market capitalization of $1,750.00, a PE ratio of -255.33 and a beta of 0.09. Boralex has a 1 year low of C$19.90 and a 1 year high of C$25.03.

Boralex (TSE:BLX) last announced its quarterly earnings data on Friday, November 10th. The company reported C($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.24) by C$0.02. The firm had revenue of C$74.00 million during the quarter, compared to analysts’ expectations of C$84.70 million. Boralex had a negative net margin of 34.67% and a negative return on equity of 9.56%.

In related news, Director Marie Giguère bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of C$22.18 per share, with a total value 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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