Boralex (TSE:BLX) Given New C$38.00 Price Target at TD Securities

Boralex (TSE:BLX - Get Free Report) had its target price boosted by stock analysts at TD Securities from C$35.00 to C$38.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' target price points to a potential upside of 15.57% from the stock's current price.

Several other research analysts have also recently issued reports on BLX. Desjardins set a C$45.00 target price on shares of Boralex and gave the company a "top pick" rating in a report on Wednesday. National Bankshares cut their target price 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. National Bank Financial raised Boralex to a "strong-buy" rating in a research report on Sunday, June 8th. BMO Capital Markets lowered their target price on shares of Boralex from C$42.00 to C$39.00 in a research report on Thursday, May 22nd. Finally, Raymond James Financial upgraded shares of Boralex to a "moderate buy" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$39.11.

Boralex Stock Up 0.9%

BLX stock traded up C$0.30 during trading on Wednesday, hitting C$32.88. 108,827 shares of the company's stock were exchanged, compared to its average volume of 339,076. The business has a 50-day moving average price of C$30.77 and a two-hundred day moving average price of C$28.90. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The stock has a market capitalization of C$3.42 billion, a price-to-earnings ratio of 48.20, 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$36.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.