Innergex Renewable Energy (TSE:INE) Price Target Cut to C$11.50 by Analysts at Raymond James

Innergex Renewable Energy (TSE:INE) had its price objective decreased by Raymond James from C$13.00 to C$11.50 in a report published on Monday,BayStreet.CA reports.

A number of other brokerages have also recently issued reports on INE. Cormark reduced their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. National Bankshares reduced their price objective on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. TD Securities lifted their price target on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy has a consensus rating of “Hold” and an average price target of C$11.63.

Innergex Renewable Energy Stock Performance

Shares of Innergex Renewable Energy stock opened at C$8.71 on Monday. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The firm has a market cap of C$1.79 billion, a P/E ratio of -13.97, a P/E/G ratio of 20.61 and a beta of 0.36. The firm has a 50 day simple moving average of C$7.80 and a 200 day simple moving average of C$8.79. Innergex Renewable Energy has a fifty-two week low of C$6.98 and a fifty-two week high of C$10.96.

About Innergex Renewable Energy

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.