Boralex (TSE:BLX) Given a C$39.00 Price Target at National Bank Financial

Key Points

• National Bank Financial set a C$39.00 price target and an outperform rating on Boralex, implying about a 16.1% upside from the current price.
• Analyst consensus is a Buy with an average target of C$38.57, though recent revisions include CIBC lowering its target to C$36.00 and Scotiabank cutting to C$39.00.
• Boralex shares rose roughly 9.4% to C$33.58 on heavy volume, but valuation and balance-sheet indicators are stretched—market cap C$3.45B, P/E 559.67, debt-to-equity 323.15—with last quarter EPS of C$0.13 and a net margin of 0.84%.

Boralex (TSE:BLX - Get Free Report) received a C$39.00 price target from stock analysts at National Bank Financial in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 16.14% from the company's current price.

Other analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce lowered their target price on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Scotiabank reduced their price target on Boralex from C$41.00 to C$39.00 and set an "outperform" rating for the company in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$38.57.

Boralex Stock Up 9.4%

Boralex stock traded up C$2.88 during mid-day trading on Tuesday, reaching C$33.58. The company's stock had a trading volume of 1,041,494 shares, compared to its average volume of 534,347. The company has a market capitalization of C$3.45 billion, a price-to-earnings ratio of 559.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Boralex has a 12 month low of C$23.48 and a 12 month high of C$33.88. The business's 50 day simple moving average is C$26.94 and its 200 day simple moving average is C$26.74. The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29.

Boralex (TSE:BLX - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The firm had revenue of C$258.00 million for the quarter. As a group, research analysts anticipate that Boralex will post 1.3383764 earnings per share for the current year.

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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.

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