Innergex Renewable Energy (OTCMKTS:INGXF) Price Target Cut to $23.00

Innergex Renewable Energy (OTCMKTS:INGXF) had its price target cut by CIBC from $25.00 to $23.00 in a report released on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective indicates a potential upside of 44.84% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. TD Securities reduced their price target on shares of Innergex Renewable Energy from $28.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday. Credit Suisse Group upgraded Innergex Renewable Energy from a “neutral” rating to an “outperform” rating in a research note on Friday, April 16th. Scotiabank dropped their price target on Innergex Renewable Energy from $32.00 to $26.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 4th. Royal Bank of Canada reduced their price objective on Innergex Renewable Energy from $29.00 to $24.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of Innergex Renewable Energy in a research report on Monday, March 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.67.

Shares of Innergex Renewable Energy stock opened at $15.88 on Thursday. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.63 and a current ratio of 0.63. Innergex Renewable Energy has a 1 year low of $12.55 and a 1 year high of $25.50. The firm’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $19.60. The firm has a market cap of $2.77 billion, a PE ratio of -32.41 and a beta of 0.52.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its earnings results on Thursday, February 25th. The company reported $0.06 EPS for the quarter. The company had revenue of $128.86 million during the quarter. Innergex Renewable Energy had a negative return on equity of 1.72% and a negative net margin of 16.28%.

Innergex Renewable Energy Company Profile

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 Generation, Wind Power Generation, and Solar Power Generation.

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Analyst Recommendations for Innergex Renewable Energy (OTCMKTS:INGXF)

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