Boralex (TSE:BLX) Price Target Raised to C$46.00 at CIBC

Boralex (TSE:BLXGet Rating) had its price objective upped by investment analysts at CIBC from C$45.00 to C$46.00 in a report issued on Thursday, BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 18.47% from the stock’s current price.

Several other research firms also recently issued reports on BLX. National Bankshares upped their price objective on Boralex from C$44.00 to C$48.00 and gave the company an “outperform” rating in a research note on Monday, April 11th. CSFB upped their price objective on Boralex from C$45.00 to C$46.00 in a research note on Wednesday. Tudor Pickering decreased their target price on shares of Boralex to C$37.00 and set a “hold” rating for the company in a research report on Thursday, February 3rd. TD Securities increased their target price on shares of Boralex from C$46.00 to C$50.00 and gave the company an “action list buy” rating in a research report on Wednesday, March 2nd. Finally, Royal Bank of Canada increased their target price on shares of Boralex from C$38.00 to C$41.00 and gave the company a “sector perform” rating in a research report on Friday, February 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boralex currently has a consensus rating of “Buy” and a consensus price target of C$45.31.

Shares of Boralex stock traded down C$0.69 on Thursday, hitting C$38.83. The stock had a trading volume of 147,756 shares, compared to its average volume of 352,697. The stock has a 50 day moving average of C$37.83 and a 200 day moving average of C$36.04. Boralex has a twelve month low of C$30.04 and a twelve month high of C$43.55. The company has a debt-to-equity ratio of 325.35, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market capitalization of C$3.98 billion and a P/E ratio of 243.75.

Boralex (TSE:BLXGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported C$0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.25 by C($0.08). The firm had revenue of C$192.00 million during the quarter, compared to the consensus estimate of C$197.95 million. Equities analysts expect that Boralex will post 0.8399999 earnings per share for the current year.

Boralex Company Profile (Get Rating)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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