Scotiabank Downgrades Boralex (TSE:BLX) to Sector Perform

Boralex (TSE:BLX - Get Free Report) was downgraded by stock analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a research report issued on Friday, July 18th, MarketBeat Ratings reports. They presently have a C$36.00 target price on the stock. Scotiabank's price objective suggests a potential upside of 15.16% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. National Bank Financial raised Boralex to a "strong-buy" rating in a report on Sunday, June 8th. Raymond James Financial raised Boralex to a "moderate buy" rating in a report on Thursday, May 15th. BMO Capital Markets dropped their price objective on Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. National Bankshares boosted their price objective on 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 boosted their price objective 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 investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$39.22.

Boralex Price Performance

Shares of Boralex stock traded down C$0.33 during trading on Friday, reaching C$31.26. The company's stock had a trading volume of 12,568 shares, compared to its average volume of 328,050. The stock has a 50-day moving average price of C$31.74 and a two-hundred day moving average price of C$29.39. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex has a one year low of C$24.40 and a one year high of C$36.63. The stock has a market capitalization of C$3.25 billion, a P/E ratio of 45.83, 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.