Boralex (TSE:BLX) Given New C$46.00 Price Target at Desjardins

Boralex (TSE:BLXGet Free Report) had its target price upped by equities researchers at Desjardins from C$44.00 to C$46.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “top pick” rating on the stock. Desjardins’ price objective would indicate a potential upside of 37.40% from the stock’s current price.

BLX has been the topic of a number of other research reports. Scotiabank lifted their price target on Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Raymond James cut their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. National Bankshares lifted their price target on Boralex from C$41.00 to C$43.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. CIBC lifted their price target on Boralex from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, BMO Capital Markets lifted their price target on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$41.22.

View Our Latest Research Report on Boralex

Boralex Stock Performance

BLX stock traded up C$0.41 during midday trading on Friday, reaching C$33.48. The company had a trading volume of 105,899 shares, compared to its average volume of 262,979. The company has a quick ratio of 1.54, a current ratio of 1.16 and a debt-to-equity ratio of 172.42. The stock has a 50 day moving average price of C$31.21 and a 200 day moving average price of C$31.01. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$37.01. The firm has a market capitalization of C$3.44 billion, a PE ratio of 34.13, a P/E/G ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLXGet Free Report) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. Boralex had a return on equity of 6.87% and a net margin of 10.14%. The company had revenue of C$291.00 million during the quarter, compared to the consensus estimate of C$296.40 million. Analysts anticipate that Boralex will post 1.0561014 earnings per share for the current year.

Boralex Company Profile

(Get Free Report)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.

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Analyst Recommendations for Boralex (TSE:BLX)

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