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

Boralex (TSE:BLX) had its price objective decreased by equities research analysts at CIBC from C$42.00 to C$40.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 48.15% from the company’s current price.

Separately, BMO Capital Markets lowered their price objective on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$43.13.

Boralex Price Performance

Shares of TSE:BLX opened at C$27.00 on Wednesday. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The firm has a market cap of C$2.77 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The business has a 50-day simple moving average of C$30.19 and a two-hundred day simple moving average of C$32.74. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68.

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.