Cormark Cuts Boralex (TSE:BLX) Price Target to C$35.00

Boralex (TSE:BLX) had its price objective reduced by Cormark from C$47.00 to C$35.00 in a report released on Thursday morning,BayStreet.CA reports.

Other analysts also recently issued research reports about the company. Scotiabank lowered their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday. 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 research note on Wednesday, January 8th. Finally, BMO Capital Markets cut their target price on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$40.88.

Boralex Trading Up 3.2 %

Shares of Boralex stock opened at C$25.84 on Thursday. Boralex has a 1 year low of C$24.40 and a 1 year high of C$36.68. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The stock has a market cap of C$2.66 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The firm has a fifty day moving average price of C$28.24 and a 200 day moving average price of C$31.86.

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.