Boralex (TSE:BLX) Rating Lowered to Sector Perform at Scotiabank

Boralex (TSE:BLX) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Friday,BayStreet.CA reports. They currently have a C$36.00 target price on the stock. Scotiabank’s target price would indicate a potential upside of 13.46% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James Financial raised shares of Boralex to a “moderate buy” rating in a report on Thursday, May 15th. Desjardins set a C$45.00 target price on shares of Boralex and gave the stock a “top pick” rating in a research note on Wednesday, June 18th. TD Securities raised their target price on shares of Boralex from C$35.00 to C$38.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. National Bank Financial upgraded shares of Boralex to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, BMO Capital Markets decreased their target price on shares of Boralex from C$42.00 to C$39.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Boralex currently has an average rating of “Buy” and an average price target of C$39.22.

Boralex Stock Performance

Shares of TSE BLX opened at C$31.73 on Friday. The firm’s 50-day moving average price is C$31.66 and its 200-day moving average price is C$29.32. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The company has a market cap of C$3.30 billion, a PE ratio of 46.52, a PEG ratio of 2.01 and a beta of 0.46. Boralex has a 52-week low of C$24.40 and a 52-week high of C$36.63.

Boralex Company Profile

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.