Raymond James Cuts Innergex Renewable Energy (TSE:INE) Price Target to C$11.50

Innergex Renewable Energy (TSE:INE) had its price objective trimmed by Raymond James from C$13.00 to C$11.50 in a research report report published on Monday,BayStreet.CA reports.

A number of other equities analysts have also weighed in on INE. CIBC dropped their target price on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Scotiabank lowered their target price on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. National Bankshares dropped their price target on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. TD Securities lifted their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, Cormark decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$11.59.

Innergex Renewable Energy Stock Performance

Shares of TSE INE opened at C$13.46 on Monday. The firm has a fifty day moving average price of C$8.00 and a 200-day moving average price of C$8.84. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The stock has a market cap of C$2.76 billion, a PE ratio of -21.59, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1 year low of C$6.98 and a 1 year high of C$13.53.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.