National Bankshares Lowers Boralex (TSE:BLX) Price Target to C$43.00

Boralex (TSE:BLX) had its price objective cut by analysts at National Bankshares from C$46.00 to C$43.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 70.09% from the company’s previous close.

Several other equities analysts also recently commented on the company. CIBC cut their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Cormark dropped their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. BMO Capital Markets dropped their price target on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Finally, Scotiabank lowered their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$40.50.

Boralex Price Performance

Shares of Boralex stock traded down C$0.12 during midday trading on Tuesday, hitting C$25.28. 62,389 shares of the company were exchanged, compared to its average volume of 339,129. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The firm has a market cap of C$2.60 billion, a P/E ratio of 27.18, a PEG ratio of 2.01 and a beta of 0.46. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The firm has a 50 day simple moving average of C$27.67 and a 200-day simple moving average of C$31.47.

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.