National Bankshares Forecasts Strong Price Appreciation for Boralex (TSE:BLX) Stock

Boralex (TSE:BLX - Get Free Report) had its target price upped by research analysts at National Bankshares from C$42.00 to C$43.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price target suggests a potential upside of 32.92% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. TD Securities boosted their price target on shares of Boralex from C$35.00 to C$38.00 and gave the stock a "buy" rating in a report on Wednesday. National Bank Financial raised shares of Boralex to a "strong-buy" rating in a research note on Sunday, June 8th. Desjardins set a C$45.00 price target on shares of Boralex and gave the stock a "top pick" rating in a research note on Wednesday. BMO Capital Markets cut their price objective on shares of Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. Finally, Raymond James Financial upgraded shares of Boralex to a "moderate buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Boralex presently has a consensus rating of "Buy" and a consensus price target of C$39.22.

Boralex Trading Down 1.3%

Shares of BLX traded down C$0.41 during trading on Thursday, reaching C$32.35. 945,756 shares of the company traded hands, compared to its average volume of 344,181. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.63. The stock has a market cap of C$3.37 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The stock has a 50-day simple moving average of C$31.03 and a 200-day simple moving average of C$28.95. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60.

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.