Boralex (TSE:BLX) Given New C$35.00 Price Target at Cormark

Boralex (TSE:BLX) had its price objective lowered by Cormark from C$47.00 to C$35.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Cormark’s price target would suggest a potential upside of 39.50% from the stock’s current price.

Several other analysts also recently commented on the stock. Scotiabank dropped their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Thursday. BMO Capital Markets dropped their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Finally, CIBC dropped their price objective on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$40.88.

Boralex Stock Performance

Shares of BLX stock traded up C$0.40 during trading hours on Thursday, hitting C$25.09. The company’s stock had a trading volume of 84,556 shares, compared to its average volume of 336,542. The company has a 50 day moving average of C$28.43 and a 200 day moving average of C$31.98. The stock has a market cap of C$2.58 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. Boralex has a 12-month low of C$24.40 and a 12-month high of C$36.68.

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.