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

Boralex (TSE:BLX) had its price target reduced by analysts at CIBC from C$43.00 to C$42.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 32.12% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Raymond James upped their price objective on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Cormark upped their price objective on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. BMO Capital Markets increased their price target on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada increased their price target on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Five equities 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 presently has a consensus rating of “Buy” and a consensus target price of C$43.38.

Boralex Price Performance

BLX stock traded down C$1.08 during trading on Friday, hitting C$31.79. The company had a trading volume of 167,554 shares, compared to its average volume of 257,879. The company has a fifty day moving average price of C$34.17 and a two-hundred day moving average price of C$33.07. 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 fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The company has a market cap of C$3.27 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. The company had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. Equities research analysts expect that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Company Profile

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.