CIBC Cuts Boralex (TSE:BLX) Price Target to C$42.00

Boralex (TSE:BLX) had its target price decreased by CIBC from C$43.00 to C$42.00 in a report issued on Friday morning,BayStreet.CA reports.

BLX has been the subject of several other research reports. Cormark increased their price objective on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. BMO Capital Markets boosted their price objective on shares of Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Raymond James lifted their price target on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, Royal Bank of Canada boosted their price target on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$43.38.

Boralex Trading Down 3.3 %

TSE BLX opened at C$31.80 on Friday. 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 stock has a market capitalization of C$3.27 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. The firm has a 50-day moving average price of C$34.16 and a 200 day moving average price of C$33.19.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.