Boralex Inc. (BLX) Given Average Rating of “Buy” by Analysts

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Shares of Boralex Inc. (TSE:BLX) have received a consensus recommendation of “Strong Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$23.38.

Several equities analysts have weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Boralex from C$24.00 to C$22.00 and set an “outperform” rating for the company in a report on Monday, November 12th. TD Securities dropped their target price on shares of Boralex from C$22.00 to C$21.00 in a report on Monday, November 12th. CIBC decreased their price target on shares of Boralex from C$24.50 to C$24.00 in a research note on Monday, November 12th. National Bank Financial raised their price target on shares of Boralex from C$23.50 to C$24.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 19th. Finally, BMO Capital Markets decreased their price target on shares of Boralex from C$26.00 to C$24.00 in a research note on Tuesday, November 6th.

TSE:BLX traded down C$0.24 during mid-day trading on Wednesday, hitting C$18.48. 127,487 shares of the company’s stock traded hands, compared to its average volume of 211,656. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 356.49. Boralex has a 1 year low of C$15.96 and a 1 year high of C$23.71. The company has a market capitalization of $1.65 billion and a P/E ratio of -87.12.

In other Boralex news, Director Sylvain Aird sold 2,257 shares of the firm’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of C$16.25, for a total transaction of C$36,676.25.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2017, the company had interests in 55 wind power stations with an installed capacity of 1,237 megawatts (MW); 15 hydroelectric power stations with a capacity of 172 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power facilities with an installed capacity of 16 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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