Desjardins Trims Boralex (TSE:BLX) Target Price to C$42.00

Boralex (TSE:BLX) had its price objective decreased by equities research analysts at Desjardins from C$44.00 to C$42.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage presently has a “top pick” rating on the stock. Desjardins’ price target points to a potential upside of 45.23% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. CIBC decreased their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Finally, Raymond James decreased their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$40.00.

Boralex Stock Up 4.7 %

Shares of TSE:BLX opened at C$28.92 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. Boralex has a 12 month low of C$25.40 and a 12 month high of C$39.99. The company has a 50-day moving average price of C$28.25 and a 200 day moving average price of C$29.94. The company has a market cap of C$2.97 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The firm had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. As a group, equities research analysts predict that Boralex will post 1.0599765 earnings per share for the current year.

About Boralex

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.