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

Boralex (TSE:BLX) had its price objective decreased by analysts at Cormark from C$47.00 to C$35.00 in a note issued to investors on Thursday,BayStreet.CA reports. Cormark’s price target points to a potential upside of 35.45% from the stock’s previous close.

A number of other analysts have also recently commented on BLX. BMO Capital Markets reduced their price target on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Scotiabank dropped their target price on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, CIBC decreased their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$40.88.

Boralex Trading Up 3.2 %

Shares of Boralex stock opened at C$25.84 on Thursday. Boralex has a 1-year low of C$24.40 and a 1-year high of C$36.68. The company’s fifty day simple moving average is C$28.24 and its 200-day simple moving average is C$31.88. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The stock has a market capitalization 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.