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

Boralex (TSE:BLX) had its target price dropped by National Bankshares from C$46.00 to C$43.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 66.60% from the company’s previous close.

Several other analysts have also recently weighed in on BLX. Cormark cut their price target on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. CIBC cut their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Scotiabank lowered their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Finally, BMO Capital Markets lowered their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$40.50.

Boralex Trading Up 1.7 %

TSE BLX opened at C$25.81 on Tuesday. Boralex has a fifty-two week low of C$24.40 and a fifty-two 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. The stock has a 50 day simple moving average of C$27.49 and a two-hundred day simple moving average of C$31.37. The stock has a market cap of C$2.65 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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.