CIBC Cuts Boralex (TSE:BLX) Price Target to C$42.00

Boralex (TSE:BLX) had its price target reduced by CIBC from C$43.00 to C$42.00 in a research report released on Friday,BayStreet.CA reports.

Several other brokerages also recently commented on BLX. BMO Capital Markets raised their target price on Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Cormark boosted their price objective on Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. Raymond James lifted their price target on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, Royal Bank of Canada upped their price objective on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boralex has an average rating of “Buy” and an average price target of C$43.38.

Boralex Trading Down 4.2 %

TSE:BLX opened at C$30.45 on Friday. Boralex has a 12 month low of C$26.25 and a 12 month high of C$36.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The stock has a market capitalization of C$3.13 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.01 and a beta of 0.46. The firm has a fifty day simple moving average of C$34.12 and a two-hundred day simple moving average of C$33.21.

Boralex Company Profile

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.