Boralex (TSE:BLX) Price Target Cut to C$36.00 by Analysts at Scotiabank

Boralex (TSE:BLX) had its price target decreased by Scotiabank from C$42.00 to C$36.00 in a report released on Thursday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

BLX has been the topic of a number of other reports. BMO Capital Markets cut their price objective on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC dropped their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boralex currently has an average rating of “Buy” and an average price target of C$40.88.

Boralex Stock Performance

Boralex stock opened at C$25.05 on Thursday. The stock’s 50-day moving average is C$28.32 and its 200-day moving average is C$31.93. The company has a market cap of C$2.57 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a 12 month low of C$24.40 and a 12 month high of C$36.68.

About Boralex

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.