Analysts Set Boralex Inc. (TSE:BLX) PT at C$39.38

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$39.38.

A number of equities research analysts have recently issued reports on BLX shares. BMO Capital Markets lowered their price target on shares of Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. National Bankshares lowered their price target on shares of Boralex from C$43.00 to C$42.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Raymond James raised shares of Boralex to a “moderate buy” rating in a research note on Thursday, May 15th. Finally, National Bank Financial raised shares of Boralex to a “strong-buy” rating in a research note on Sunday, June 8th.

Boralex Trading Down 0.1%

Shares of Boralex stock opened at C$32.20 on Tuesday. Boralex has a 12-month low of C$24.40 and a 12-month high of C$36.63. The company has a market cap of C$3.35 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The company’s 50-day moving average price is C$30.42 and its 200-day moving average price is C$28.86.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.