Innergex Renewable Energy (TSE:INE) Price Target Raised to C$9.00

Innergex Renewable Energy (TSE:INE) had its target price raised by investment analysts at TD Securities from C$8.00 to C$9.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price target indicates a potential upside of 0.22% from the company’s previous close.

INE has been the subject of several other research reports. Cormark dropped 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. National Bankshares lowered their target price on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$11.81.

Innergex Renewable Energy Stock Performance

Shares of TSE:INE traded up C$0.46 on Friday, reaching C$8.98. 686,531 shares of the company’s stock were exchanged, compared to its average volume of 646,909. The company has a fifty day moving average of C$7.78 and a 200-day moving average of C$8.80. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$10.96. The company has a market capitalization of C$1.84 billion, a price-to-earnings ratio of -14.40, a PEG ratio of 20.61 and a beta of 0.36. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44.

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.