Boralex Inc. (TSE:BLX) Receives Average Recommendation of “Buy” from Brokerages

Boralex Inc. (TSE:BLX) has received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$43.38.

Several equities analysts have recently weighed in on BLX shares. BMO Capital Markets reduced their price target on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC reduced their price objective on shares of Boralex from C$43.00 to C$42.00 in a research note on Friday, November 15th.

Boralex Stock Up 0.7 %

BLX stock opened at C$29.17 on Monday. The business has a 50 day moving average of C$30.62 and a 200 day moving average of C$32.95. The firm has a market cap of C$3.00 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a twelve month low of C$26.25 and a twelve month high of C$36.68. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24.

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.