Boralex Inc. (TSE:BLX) Given Average Rating of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$23.71.

BLX has been the topic of several research reports. Raymond James reissued an “outperform” rating and set a C$26.00 price target on shares of Boralex in a research note on Friday, August 9th. CIBC lifted their price target on shares of Boralex from C$23.50 to C$24.00 in a research note on Wednesday, June 19th. BMO Capital Markets lifted their price target on shares of Boralex from C$22.00 to C$23.00 in a research note on Wednesday, June 26th. Finally, TD Securities lifted their price target on shares of Boralex from C$22.00 to C$24.00 in a research note on Wednesday, July 17th.

BLX traded down C$0.01 on Wednesday, reaching C$20.65. The company had a trading volume of 82,269 shares, compared to its average volume of 219,176. The business has a 50 day simple moving average of C$20.07 and a 200 day simple moving average of C$19.13. The company has a market cap of $1.83 billion and a price-to-earnings ratio of -145.42. The company has a debt-to-equity ratio of 436.91, a quick ratio of 0.81 and a current ratio of 1.01. Boralex has a 52-week low of C$15.96 and a 52-week high of C$20.76.

About Boralex

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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