Boralex Inc. (TSE:BLX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Boralex Inc. (TSE:BLX) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$40.88.

A number of equities analysts have weighed in on BLX shares. BMO Capital Markets cut their price target on shares of Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. CIBC cut their price target on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Scotiabank cut their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Cormark cut their price target on shares of Boralex from C$47.00 to C$35.00 in a research note on Thursday.

Boralex Stock Performance

TSE:BLX opened at C$25.05 on Friday. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The company has a market cap of C$2.57 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.68. The firm’s 50 day moving average is C$28.32 and its two-hundred day moving average is C$31.93.

Boralex Company Profile

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.