Boralex (TSE:BLX) PT Raised to C$53.00

Boralex (TSE:BLXGet Rating) had its price objective boosted by research analysts at BMO Capital Markets from C$51.00 to C$53.00 in a research note issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 38.71% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. CIBC decreased their price objective on shares of Boralex from C$46.00 to C$45.00 and set an “outperform” rating for the company in a research report on Thursday. Credit Suisse Group decreased their price objective on shares of Boralex to C$43.00 and set a “neutral” rating for the company in a research report on Tuesday, October 25th. TD Securities upped their price objective on shares of Boralex from C$50.00 to C$55.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. National Bankshares decreased their price objective on shares of Boralex from C$50.00 to C$48.00 in a research report on Friday, October 7th. Finally, CSFB cut shares of Boralex from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$55.00 to C$43.00 in a research report on Tuesday, October 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Boralex presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.75.

Boralex Stock Performance

TSE:BLX opened at C$38.21 on Thursday. The company has a debt-to-equity ratio of 170.23, a current ratio of 1.92 and a quick ratio of 1.81. The firm has a 50-day moving average of C$41.81 and a two-hundred day moving average of C$42.80. The stock has a market cap of C$3.93 billion and a P/E ratio of 67.04. Boralex has a 1-year low of C$30.04 and a 1-year high of C$51.55.

Insider Buying and Selling

In other news, Director Dany St-Pierre purchased 1,530 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were bought at an average price of C$46.21 per share, for a total transaction of C$70,695.96. Following the completion of the purchase, the director now owns 1,530 shares of the company’s stock, valued at C$70,695.96.

Boralex Company Profile

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Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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