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

Innergex Renewable Energy (TSE:INE) had its target price boosted by TD Securities from C$8.00 to C$9.00 in a research report report published on Friday morning,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Several other research firms have also recently issued reports on INE. CIBC lowered their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Cormark lowered their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Scotiabank lowered their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Finally, National Bankshares lowered their price objective on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$11.64.

Innergex Renewable Energy Price Performance

TSE:INE opened at C$8.95 on Friday. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$10.96. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44. The stock has a market capitalization of C$1.84 billion, a PE ratio of -14.35, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The stock’s 50-day moving average price is C$7.79 and its 200-day moving average price is C$8.79.

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.