Scotiabank Lowers Boralex (TSE:BLX) Price Target to C$36.00

Boralex (TSE:BLX) had its target price dropped by Scotiabank from C$42.00 to C$36.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 39.32% from the stock’s current price.

Several other brokerages have also commented on BLX. CIBC reduced their price objective on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets reduced their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Boralex has an average rating of “Buy” and an average target price of C$40.88.

Boralex Stock Up 3.2 %

BLX opened at C$25.84 on Thursday. The business’s fifty day simple moving average is C$28.24 and its 200 day simple moving average is C$31.88. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The stock has a market cap of C$2.66 billion, a PE ratio of 27.78, a P/E/G ratio of 2.01 and a beta of 0.46.

About Boralex

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.