Raymond James Issues Pessimistic Forecast for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its target price lowered by Raymond James from C$13.00 to C$11.50 in a research note released on Monday morning,BayStreet.CA reports.

Several other research firms have also issued reports on INE. Cormark reduced their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Scotiabank cut their target price on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. CIBC cut 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. TD Securities raised their price target on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Friday. Finally, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$11.63.

Innergex Renewable Energy Stock Performance

Shares of TSE:INE opened at C$8.71 on Monday. The company’s 50 day moving average price is C$7.80 and its two-hundred day moving average price is C$8.79. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$10.96. The firm has a market cap of C$1.79 billion, a PE ratio of -13.97, a PEG ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44.

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.