National Bankshares Issues Pessimistic Forecast for Boralex (TSE:BLX) Stock Price

Key Points

• National Bankshares has cut Boralex's price target from C$43.00 to C$41.00, while maintaining an "outperform" rating, indicating a potential upside of 38.89% from the current stock price.
• Other firms have also revised their price targets, with Scotiabank dropping theirs to C$35.00, while TD Securities raised it to C$38.00, reflecting mixed analyst sentiment.
• Boralex's stock rose by 1.8% on Monday, reaching C$29.52, with a market capitalization of C$3.07 billion and a current P/E ratio of 43.28.

Boralex (TSE:BLX - Get Free Report) had its price objective lowered by investment analysts at National Bankshares from C$43.00 to C$41.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price target would suggest a potential upside of 38.23% from the company's previous close.

Several other research analysts have also commented on the company. National Bank Financial upgraded Boralex to a "strong-buy" rating in a research report on Sunday, June 8th. Desjardins set a C$45.00 target price on Boralex and gave the stock a "top pick" rating in a research report on Wednesday, June 18th. Raymond James Financial raised Boralex to a "moderate buy" rating in a report on Thursday, May 15th. BMO Capital Markets cut their price target on Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. Finally, TD Securities raised their price target on Boralex from C$35.00 to C$38.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$38.89.

Boralex Trading Up 0.4%

TSE BLX traded up C$0.13 during trading hours on Monday, hitting C$29.66. 41,716 shares of the company's stock were exchanged, compared to its average volume of 327,337. The business's 50 day moving average is C$31.65 and its 200-day moving average is C$29.78. The firm has a market capitalization of C$3.09 billion, a P/E ratio of 43.48, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 12-month low of C$24.40 and a 12-month 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.