Innergex Renewable Energy (TSE:INE) Price Target Cut to C$18.00 by Analysts at BMO Capital Markets

Innergex Renewable Energy (TSE:INEGet Rating) had its target price decreased by analysts at BMO Capital Markets from C$19.00 to C$18.00 in a note issued to investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 12.85% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. CSFB lifted their price objective on shares of Innergex Renewable Energy from C$21.50 to C$22.00 in a report on Monday, November 21st. Royal Bank of Canada cut their target price on Innergex Renewable Energy from C$21.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 9th. TD Securities raised Innergex Renewable Energy from a “hold” rating to a “buy” rating and set a C$19.50 price target for the company in a research report on Wednesday, November 9th. Credit Suisse Group lifted their price objective on shares of Innergex Renewable Energy to C$22.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. Finally, CIBC downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Innergex Renewable Energy has an average rating of “Moderate Buy” and a consensus price target of C$20.85.

Innergex Renewable Energy Trading Down 0.8 %

Shares of Innergex Renewable Energy stock opened at C$15.95 on Thursday. The company has a debt-to-equity ratio of 345.86, a quick ratio of 0.58 and a current ratio of 0.80. Innergex Renewable Energy has a 52 week low of C$14.23 and a 52 week high of C$20.46. The stock has a 50 day moving average price of C$16.41 and a two-hundred day moving average price of C$17.41. The stock has a market capitalization of C$3.26 billion and a PE ratio of -167.89.

About Innergex Renewable Energy

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Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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