Boralex (TSE:BLX) Given New C$40.00 Price Target at CIBC

Boralex (TSE:BLX) had its price target cut by stock analysts at CIBC from C$42.00 to C$40.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 46.52% from the company’s current price.

Separately, BMO Capital Markets decreased their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$43.13.

Boralex Stock Down 6.0 %

Shares of BLX stock traded down C$1.73 on Wednesday, hitting C$27.30. The company’s stock had a trading volume of 196,223 shares, compared to its average volume of 187,028. The stock has a market capitalization of C$2.81 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The firm’s fifty day moving average price is C$30.44 and its 200-day moving average price is C$32.82. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54.

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.