BMO Capital Markets Lowers Boralex (TSE:BLX) Price Target to C$45.00

Boralex (TSE:BLX) had its price objective cut by equities researchers at BMO Capital Markets from C$46.00 to C$45.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 41.55% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Raymond James raised their price objective on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Cormark boosted their target price on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. CIBC reduced their target price on shares of Boralex from C$43.00 to C$42.00 in a research report on Friday. Finally, Royal Bank of Canada upped their price target 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. According to data from MarketBeat, Boralex presently has a consensus rating of “Buy” and a consensus target price of C$43.38.

Boralex Stock Down 3.3 %

Shares of TSE BLX traded down C$1.08 during mid-day trading on Friday, reaching C$31.79. The company had a trading volume of 167,554 shares, compared to its average volume of 257,879. 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 firm has a 50 day simple moving average of C$34.17 and a two-hundred day simple moving average of C$33.07. The stock has a market cap of C$3.27 billion, a P/E ratio of 34.18, a PEG ratio of 2.01 and a beta of 0.46. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68.

Boralex (TSE:BLX) last posted its earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. The firm had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. Sell-side analysts predict that Boralex will post 1.3383764 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.