Scotiabank Issues Pessimistic Forecast for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its price objective reduced by investment analysts at Scotiabank from C$36.00 to C$35.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 18.08% from the stock’s previous close.

A number of other research firms also recently weighed in on BLX. BMO Capital Markets decreased their price objective on Boralex from C$42.00 to C$39.00 in a report on Thursday, May 22nd. Raymond James Financial raised Boralex to a “moderate buy” rating in a report on Thursday, May 15th. TD Securities boosted their target price on Boralex from C$35.00 to C$38.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. National Bank Financial raised Boralex to a “strong-buy” rating in a report on Sunday, June 8th. Finally, Desjardins set a C$45.00 target price on Boralex and gave the stock a “top pick” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$38.89.

Boralex Stock Up 0.3%

TSE BLX opened at C$29.64 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The stock’s 50 day moving average is C$31.70 and its two-hundred day moving average is C$29.78. The company has a market capitalization of C$3.09 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.01 and a beta of 0.46. Boralex has a 1-year low of C$24.40 and a 1-year high of C$36.63.

Boralex Company Profile

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.