Brokerages Set Boralex Inc. (TSE:BLX) Target Price at C$43.38

Boralex Inc. (TSE:BLX) has been assigned an average recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$43.38.

Several brokerages have issued reports on BLX. CIBC lowered their price objective on shares of Boralex from C$43.00 to C$42.00 in a research report on Friday, November 15th. BMO Capital Markets dropped their price target on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th.

Boralex Price Performance

Shares of TSE:BLX opened at C$28.71 on Monday. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a 12 month low of C$26.25 and a 12 month high of C$36.68. The firm has a market capitalization of C$2.95 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.01 and a beta of 0.46. The company’s fifty day moving average price is C$30.86 and its 200 day moving average price is C$33.01.

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.