Scotiabank Issues Pessimistic Forecast for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its price target cut by equities research analysts at Scotiabank from C$42.00 to C$36.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 39.32% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets cut their target price on shares of Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. CIBC lowered their price objective on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$40.88.

Boralex Stock Performance

TSE:BLX opened at C$25.84 on Thursday. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The firm’s fifty day simple moving average is C$28.24 and its 200 day simple moving average is C$31.88. The stock has a market cap of C$2.66 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.68.

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.