Innergex Renewable Energy (TSE:INE) Given New C$11.50 Price Target at Raymond James

Innergex Renewable Energy (TSE:INE) had its price objective cut by investment analysts at Raymond James from C$13.00 to C$11.50 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 30.53% from the company’s current price.

A number of other brokerages also recently commented on INE. TD Securities boosted their price objective on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Friday. CIBC lowered their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Scotiabank dropped their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Cormark decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Finally, National Bankshares dropped their target price on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$11.63.

Innergex Renewable Energy Stock Down 1.6 %

TSE:INE traded down C$0.14 during midday trading on Monday, reaching C$8.81. The company had a trading volume of 403,778 shares, compared to its average volume of 651,764. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$10.96. The firm has a market capitalization of C$1.81 billion, a price-to-earnings ratio of -14.13, a PEG ratio of 20.61 and a beta of 0.36. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. The stock’s fifty day simple moving average is C$7.79 and its 200-day simple moving average is C$8.79.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.