Royal Bank Of Canada Cuts Boralex (TSE:BLX) Price Target to C$36.00

Boralex (TSE:BLX) had its target price dropped by equities researchers at Royal Bank Of Canada from C$38.00 to C$36.00 in a report released on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price target would indicate a potential upside of 26.49% from the stock’s current price.

A number of other brokerages have also recently commented on BLX. Desjardins decreased their price objective on Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a research note on Tuesday, October 28th. National Bankshares decreased their price target on shares of Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a research note on Monday, August 11th. Finally, Scotiabank cut their price target on shares of Boralex from C$36.00 to C$35.00 and set a “sector perform” rating for the company in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Boralex presently has a consensus rating of “Buy” and an average price target of C$38.22.

Boralex Price Performance

Shares of BLX traded down C$0.17 during mid-day trading on Monday, reaching C$28.46. The company had a trading volume of 304,322 shares, compared to its average volume of 335,081. Boralex has a twelve month low of C$24.40 and a twelve month high of C$33.61. The company’s 50-day moving average is C$27.85 and its 200-day moving average is C$29.99. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. The company has a market capitalization of C$2.92 billion, a P/E ratio of -316.22, a P/E/G ratio of 2.01 and a beta of 0.33.

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.