Boralex Inc. (TSE:BLX) Receives C$39.38 Average Price Target from Brokerages

Boralex Inc. (TSE:BLX - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$39.38.

Several research firms have weighed in on BLX. National Bank Financial raised Boralex to a "strong-buy" rating in a research report on Sunday, June 8th. National Bankshares dropped their price target on Boralex from C$43.00 to C$42.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Raymond James raised Boralex to a "moderate buy" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets lowered their price objective on Boralex from C$42.00 to C$39.00 in a research report on Thursday, May 22nd.

Boralex Trading Down 0.1%

Shares of BLX traded down C$0.02 during trading hours on Tuesday, reaching C$32.18. 155,610 shares of the company traded hands, compared to its average volume of 342,137. Boralex has a 12 month low of C$24.40 and a 12 month high of C$36.63. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The company's fifty day moving average price is C$30.42 and its two-hundred day moving average price is C$28.86. The company has a market capitalization of C$3.35 billion, a price-to-earnings ratio of 47.18, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

About Boralex

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.