Boralex (TSE:BLX) Stock Rating Lowered by Scotiabank

Boralex (TSE:BLX - Get Free Report) was downgraded by Scotiabank from an "outperform" rating to a "sector perform" rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$36.00 price objective on the stock. Scotiabank's price objective suggests a potential upside of 13.46% from the stock's previous close.

A number of other brokerages also recently commented on BLX. Desjardins set a C$45.00 price objective on shares of Boralex and gave the company a "top pick" rating in a research report on Wednesday, June 18th. Raymond James Financial raised shares of Boralex to a "moderate buy" rating in a research report on Thursday, May 15th. BMO Capital Markets decreased their price objective on shares of Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. National Bankshares upped their price objective on shares of Boralex from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Thursday, June 19th. Finally, TD Securities upped their target price on shares of Boralex from C$35.00 to C$38.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boralex has a consensus rating of "Buy" and an average target price of C$39.22.

Boralex Price Performance

Shares of TSE BLX traded down C$0.09 during midday trading on Friday, reaching C$31.73. The company's stock had a trading volume of 456,397 shares, compared to its average volume of 331,512. 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 company has a 50 day moving average price of C$31.66 and a 200 day moving average price of C$29.32. Boralex has a one year low of C$24.40 and a one year high of C$36.63. The company has a market cap of C$3.30 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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.