Innergex Renewable Energy (TSE:INE) Given New C$16.00 Price Target at National Bankshares

Innergex Renewable Energy (TSE:INE) had its price objective decreased by equities researchers at National Bankshares from C$17.00 to C$16.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 117.39% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Cormark cut their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note 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. Finally, CIBC lowered their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$11.94.

Innergex Renewable Energy Stock Performance

INE opened at C$7.36 on Tuesday. The stock’s 50 day simple moving average is C$7.89 and its 200 day simple moving average is C$8.89. The stock has a market cap of C$1.49 billion, a P/E ratio of -11.32, a P/E/G 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$10.96. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

About Innergex Renewable Energy

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.