Cormark Cuts Boralex (TSE:BLX) Price Target to C$35.00

Boralex (TSE:BLX) had its price target trimmed by Cormark from C$47.00 to C$35.00 in a report published on Thursday,BayStreet.CA reports.

Other analysts also recently issued research reports about the company. BMO Capital Markets decreased their price target on Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. Scotiabank decreased their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, CIBC decreased their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boralex has an average rating of “Buy” and a consensus price target of C$40.88.

Boralex Stock Performance

BLX opened at C$25.05 on Thursday. The company has a market cap of C$2.57 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The stock has a 50-day moving average of C$28.32 and a 200-day moving average of C$31.93. Boralex has a 52-week low of C$24.40 and a 52-week high of C$36.68. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95.

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.