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

Boralex (TSE:BLX) had its price target decreased by investment analysts at CIBC from C$43.00 to C$42.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 32.12% from the stock’s previous close.

A number of other brokerages also recently issued reports on BLX. Royal Bank of Canada increased their price target on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. Cormark raised their target price on Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Raymond James raised their target price on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets raised their target price on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$43.38.

Boralex Price Performance

TSE:BLX traded down C$1.08 during trading hours on Friday, reaching C$31.79. 167,554 shares of the company were exchanged, compared to its average volume of 257,879. The company has a market capitalization of C$3.27 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 1-year low of C$26.25 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 business has a 50 day moving average of C$34.17 and a 200 day moving average of C$33.07.

Boralex (TSE:BLX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. Research analysts forecast that Boralex will post 1.3383764 EPS for the current year.

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.