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

Boralex (TSE:BLX) had its price objective dropped by analysts at CIBC from C$43.00 to C$42.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 32.08% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James increased their price target on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Cormark raised their target price on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their price target on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. BMO Capital Markets increased their price objective on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Finally, Cibc World Mkts raised Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$43.38.

Boralex Stock Down 3.3 %

BLX opened at C$31.80 on Friday. Boralex has a 12 month low of C$26.25 and a 12 month high of C$36.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The business’s 50-day moving average price is C$34.16 and its 200-day moving average price is C$33.14. The company has a market cap of C$3.27 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to analysts’ expectations of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. On average, equities analysts expect that Boralex will post 1.3383764 EPS for the current year.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.