Boralex Inc. (TSE:BLX) has been given an average recommendation of “Buy” by the nine brokerages that are presently covering the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$22.16.

A number of research analysts have recently weighed in on BLX shares. Raymond James Financial Inc. increased their price objective on Boralex from C$23.00 to C$23.25 and gave the company an “outperform” rating in a report on Monday, September 19th. CIBC reissued an “outperform” rating and issued a C$22.50 price objective on shares of Boralex in a report on Wednesday, September 7th. RBC Capital Markets upped their target price on Boralex from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Friday, August 5th. Desjardins upped their target price on Boralex from C$22.50 to C$23.00 and gave the stock a “buy” rating in a research note on Thursday, November 10th. Finally, Royal Bank Of Canada upped their target price on Boralex from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Monday, August 8th.

Shares of Boralex (TSE:BLX) opened at 16.78 on Thursday. Boralex has a 1-year low of $12.71 and a 1-year high of $20.46. The firm has a 50-day moving average price of $18.21 and a 200-day moving average price of $18.62. The company has a market cap of $1.10 billion and a P/E ratio of 299.64.

About Boralex

Boralex Inc is a power producer that develops, constructs and operates renewable energy power stations. The Company’s segments include wind, hydroelectric, thermal and solar. It operates an asset base with a capacity of approximately 1,260 megawatts (MW), of which over 1,090 MW are under its control, consisting of approximately 490 MW in Canada, over 520 MW in France and over 80 MW in the Northeastern United States.

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