National Bankshares Has Lowered Expectations for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its target price decreased by investment analysts at National Bankshares from C$17.00 to C$16.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 117.39% from the stock’s previous close.

INE has been the topic of a number of other research reports. CIBC cut their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Scotiabank cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. Finally, Cormark decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$11.94.

Innergex Renewable Energy Trading Up 4.4 %

INE opened at C$7.36 on Tuesday. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. Innergex Renewable Energy has a one year low of C$6.98 and a one year high of C$10.96. The company has a market cap of C$1.49 billion, a P/E ratio of -11.32, a PEG ratio of 20.61 and a beta of 0.36. The business’s 50-day simple moving average is C$7.89 and its 200-day simple moving average is C$8.89.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.