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

Boralex (TSE:BLX) had its price objective dropped by analysts at CIBC from C$43.00 to C$42.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 32.08% from the company’s current price.

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

Boralex Trading Down 3.3 %

Shares of TSE:BLX opened at C$31.80 on Friday. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a 1 year low of C$26.25 and a 1 year high of C$36.68. The company has a market cap of C$3.27 billion, a P/E ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46. The stock’s fifty day moving average price is C$34.16 and its 200-day moving average price is C$33.14.

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