TD Securities Forecasts Strong Price Appreciation for Innergex Renewable Energy (TSE:INE) Stock

Innergex Renewable Energy (TSE:INE) had its price objective raised by investment analysts at TD Securities from C$8.00 to C$9.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target points to a potential upside of 0.56% from the company’s previous close.

INE has been the topic of several other reports. Cormark reduced their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. National Bankshares reduced their target price on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. CIBC reduced their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, Scotiabank reduced their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$11.64.

Innergex Renewable Energy Price Performance

Shares of INE stock opened at C$8.95 on Friday. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$10.96. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. The company has a market capitalization of C$1.84 billion, a P/E ratio of -14.35, a P/E/G ratio of 20.61 and a beta of 0.36. The stock has a 50 day moving average of C$7.79 and a two-hundred day moving average of C$8.80.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.