CIBC Has Lowered Expectations for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its target price reduced by stock analysts at CIBC from C$42.00 to C$40.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 48.15% from the company’s current price.

Separately, BMO Capital Markets cut their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Boralex has a consensus rating of “Buy” and a consensus target price of C$43.13.

Boralex Stock Down 1.5 %

TSE:BLX opened at C$27.00 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. Boralex has a twelve month low of C$26.25 and a twelve month high of C$36.68. The company has a market cap of C$2.77 billion, a PE ratio of 29.03, a P/E/G ratio of 2.01 and a beta of 0.46. The company’s 50 day moving average is C$30.19 and its two-hundred day moving average is C$32.74.

About Boralex

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.