National Bank Financial Boosts Boralex (TSE:BLX) Price Target to C$26.00

Boralex (TSE:BLX) had its price objective lifted by research analysts at National Bank Financial from C$25.00 to C$26.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 16.18% from the stock’s current price.

A number of other equities analysts also recently weighed in on BLX. CIBC upped their price target on shares of Boralex from C$24.00 to C$25.00 in a research note on Wednesday, October 23rd. TD Securities upped their price target on shares of Boralex from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James reissued an “outperform” rating and set a C$26.00 target price on shares of Boralex in a research report on Friday, August 9th. Finally, BMO Capital Markets increased their target price on shares of Boralex from C$23.00 to C$26.00 in a research report on Monday, September 9th. Five analysts have rated the stock with a buy rating, Boralex currently has a consensus rating of “Buy” and a consensus target price of C$25.00.

Shares of TSE BLX traded up C$0.34 during mid-day trading on Friday, reaching C$22.38. The company had a trading volume of 556,821 shares, compared to its average volume of 229,855. Boralex has a twelve month low of C$15.96 and a twelve month high of C$22.95. The company has a debt-to-equity ratio of 436.91, a quick ratio of 0.81 and a current ratio of 1.01. The stock has a market capitalization of $2.12 billion and a PE ratio of -157.61. The stock’s 50 day moving average is C$22.29 and its 200-day moving average is C$20.37.

Boralex (TSE:BLX) last posted its quarterly earnings results on Thursday, August 8th. The company reported C($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.17) by C$0.03. The company had revenue of C$121.00 million during the quarter, compared to analyst estimates of C$121.00 million. On average, sell-side analysts anticipate that Boralex will post 0.29 EPS for the current year.

About Boralex

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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