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

Boralex (TSE:BLX) had its price target cut by stock analysts at CIBC from C$42.00 to C$40.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 46.52% from the stock’s previous close.

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

Boralex Price Performance

BLX stock traded down C$1.73 during midday trading on Wednesday, reaching C$27.30. 196,223 shares of the company’s stock traded hands, compared to its average volume of 187,028. The company has a 50-day simple moving average of C$30.44 and a two-hundred day simple moving average of C$32.82. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. Boralex has a 1-year low of C$26.25 and a 1-year high of C$36.68. The company has a market cap of C$2.81 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.01 and a beta of 0.46.

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.