Brokerages Set Boralex Inc. (TSE:BLX) PT at C$39.38

Shares of Boralex Inc. (TSE:BLX) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$39.38.

A number of research analysts recently weighed in on BLX shares. National Bankshares cut their target price on shares of Boralex from C$43.00 to C$42.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. BMO Capital Markets dropped their price objective on shares of Boralex from C$42.00 to C$39.00 in a research note on Thursday, May 22nd. National Bank Financial raised shares of Boralex to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, Raymond James raised shares of Boralex to a “moderate buy” rating in a research note on Thursday, May 15th.

Boralex Trading Up 1.7%

BLX stock opened at C$32.73 on Tuesday. The firm has a fifty day moving average price of C$30.68 and a 200 day moving average price of C$28.88. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.63. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The firm has a market cap of C$3.41 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.