Innergex Renewable Energy (INE) Stock Forecast & Price Target

C$9.53

-0.21 (-2.16%)

(As of 07/26/2024 ET)

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Innergex Renewable Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 9 Analyst Ratings

Based on 9 Wall Street analysts who have issued ratings for Innergex Renewable Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 9 analysts, 4 have given a hold rating, and 5 have given a buy rating for INE.

Consensus Price Target

C$12.25
28.54% Upside

High Forecast	C$17.00
Average Forecast	C$12.25
Low Forecast	C$9.00

According to the 9 analysts' twelve-month price targets for Innergex Renewable Energy, the average price target is C$12.25. The highest price target for INE is C$17.00, while the lowest price target for INE is C$9.00. The average price target represents a forecasted upside of 28.54% from the current price of C$9.53.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	5 Buy rating(s)	6 Buy rating(s)	5 Buy rating(s)	3 Buy rating(s)
Hold	4 Hold rating(s)	2 Hold rating(s)	2 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$12.25	C$12.06	C$12.59	C$18.36
Forecasted Upside	28.54% Upside	31.92% Upside	51.00% Upside	28.86% Upside

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INE Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

INE Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Innergex Renewable Energy Stock vs. The Competition

Type	Innergex Renewable Energy	Utilities Companies
Consensus Rating Score	2.56	2.47
Consensus Rating	Moderate Buy	Hold
News Sentiment Rating	Positive News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
7/26/2024	TD Securities 4 of 5 stars		Downgrade	Buy ➝ Hold	C$10.00	+4.60%
7/22/2024	Cibc World Mkts 0 of 5 stars	M. Jarvi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
7/22/2024	CIBC 3 of 5 stars		Boost Target	Neutral	C$11.00 ➝ C$11.50	+14.09%
7/4/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$16.00 ➝ C$17.00	+59.33%
6/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$10.50 ➝ C$12.50	+14.89%
6/6/2024	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	C$13.00 ➝ C$14.00	+28.68%
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2/22/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	C$15.00 ➝ C$13.00	+60.10%
2/22/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	C$10.00 ➝ C$9.00	+10.84%
2/12/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform	C$13.00 ➝ C$11.00	+40.13%
4/24/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$20.00 ➝ C$19.50	+38.59%
1/24/2023	Cormark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$20.00 ➝ C$19.00	+17.57%
11/21/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$22.00	+40.85%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 02:13 AM ET.

INE Forecast - Frequently Asked Questions

What is Innergex Renewable Energy's forecast for 2024?: According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Innergex Renewable Energy is C$12.25, with a high forecast of C$17.00 and a low forecast of C$9.00.
Should I buy or sell Innergex Renewable Energy stock right now?: 9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Innergex Renewable Energy in the last year. There are currently 4 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" INE shares.
Does Innergex Renewable Energy's stock price have much upside?: According to analysts, Innergex Renewable Energy's stock has a predicted upside of 28.68% based on their 12-month stock forecasts.
Has Innergex Renewable Energy been upgraded or downgraded by Wall Street analysts recently?: Over the previous 90 days, Innergex Renewable Energy's stock had 1 upgrade and 1 downgrade by analysts.
What analysts cover Innergex Renewable Energy?: Innergex Renewable Energy has been rated by research analysts at CIBC, Cibc World Mkts, Desjardins, National Bankshares, Scotiabank, and TD Securities in the past 90 days.
Do Wall Street analysts like Innergex Renewable Energy more than its competitors?: Analysts like Innergex Renewable Energy more than other "utilities" companies. The consensus rating for Innergex Renewable Energy is Moderate Buy while the average consensus rating for "utilities" companies is Hold. Learn more on how INE compares to other companies.