Raymond James Raises Boralex (TSE:BLX) Price Target to C$37.00

Boralex (TSE:BLX) had its target price hoisted by Raymond James from C$34.00 to C$37.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock.

A number of other research analysts have also issued reports on BLX. National Bank Financial lowered shares of Boralex from an outperform rating to a sector perform rating and raised their price objective for the company from C$34.00 to C$37.00 in a report on Wednesday, July 22nd. TD Securities raised their price objective on shares of Boralex from C$33.00 to C$34.00 and gave the company a buy rating in a report on Thursday, May 7th. Royal Bank of Canada raised their price objective on shares of Boralex from C$28.00 to C$33.00 and gave the company a sector perform rating in a report on Thursday, May 7th. Finally, CIBC raised their price objective on shares of Boralex from C$30.00 to C$35.00 in a report on Tuesday, July 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of C$34.17.

BLX stock opened at C$34.94 on Wednesday. The stock has a market capitalization of $3.37 billion and a P/E ratio of -117.64. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 405.99. Boralex has a 12 month low of C$17.91 and a 12 month high of C$36.48. The firm has a 50-day moving average price of C$31.63 and a 200-day moving average price of C$28.65.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.35 by C$0.08. The business had revenue of C$200.00 million during the quarter, compared to the consensus estimate of C$200.00 million. As a group, equities analysts predict that Boralex will post 0.39 EPS for the current fiscal year.

Boralex Company Profile

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.

Read More: Analyzing a company’s cash flow statement

Analyst Recommendations for Boralex (TSE:BLX)

Receive News & Ratings for Boralex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boralex and related companies with MarketBeat.com's FREE daily email newsletter.