BMO Capital Markets Increases Boralex (TSE:BLX) Price Target to C$46.00

Boralex (TSE:BLX) had its price objective increased by investment analysts at BMO Capital Markets from C$39.00 to C$46.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 47.48% from the stock’s previous close.

Several other equities analysts also recently issued reports on BLX. Royal Bank of Canada upped their price objective on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Scotiabank upped their target price on Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. CIBC lifted their price target on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Cormark raised their target price on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$43.22.

Boralex Price Performance

Shares of TSE BLX opened at C$31.19 on Thursday. The stock’s 50-day simple moving average is C$33.51 and its 200-day simple moving average is C$31.37. 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 capitalization of C$3.21 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$36.68.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.04 by C$0.06. The business had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. As a group, equities research analysts forecast that Boralex will post 1.06144 EPS for the current fiscal year.

About Boralex

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.