Brokerages Set Boralex Inc. (TSE:BLX) Target Price at C$43.38

Boralex Inc. (TSE:BLX) has been given an average rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$43.38.

BLX has been the topic of a number of recent analyst reports. Cormark raised their price target on shares of Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. CIBC cut their price target on shares of Boralex from C$43.00 to C$42.00 in a report on Friday, November 15th. Royal Bank of Canada upped their target price on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. BMO Capital Markets dropped their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Finally, Raymond James boosted their price objective on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th.

Boralex Stock Performance

Boralex stock opened at C$29.24 on Thursday. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The company has a market capitalization of C$3.00 billion, a PE ratio of 31.44, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a 50 day moving average price of C$33.03 and a 200-day moving average price of C$33.37. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95.

Boralex Company Profile

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.