Boralex Inc. (TSE:BLX) Receives Average Rating of “Buy” from Brokerages

Boralex Inc. (TSE:BLX) has received an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$23.71.

Several analysts recently issued reports on BLX shares. CIBC raised their price target on Boralex from C$23.50 to C$24.00 in a report on Wednesday, June 19th. Raymond James reissued an “outperform” rating and issued a C$26.00 price target on shares of Boralex in a report on Friday, August 9th. TD Securities raised their price target on Boralex from C$22.00 to C$24.00 in a report on Wednesday, July 17th. Finally, BMO Capital Markets raised their price target on Boralex from C$22.00 to C$23.00 in a report on Wednesday, June 26th.

Shares of TSE BLX traded up C$0.03 during mid-day trading on Wednesday, hitting C$20.45. The company had a trading volume of 102,426 shares, compared to its average volume of 219,715. The stock has a market cap of $1.82 billion and a price-to-earnings ratio of -143.80. Boralex has a 12 month low of C$15.96 and a 12 month high of C$20.56. The company has a debt-to-equity ratio of 436.91, a current ratio of 1.01 and a quick ratio of 0.81. The firm’s 50 day simple moving average is C$19.99 and its two-hundred day simple moving average is C$19.09.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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