TD Securities Lowers Innergex Renewable Energy (INE) Price Target to C$15.50
Innergex Renewable Energy (TSE:INE) had its price target lowered by investment analysts at TD Securities from C$16.00 to C$15.50 in a note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 11.99% from the stock’s current price.
Other analysts also recently issued reports about the stock. Desjardins restated an “average” rating and set a C$15.50 target price on shares of Innergex Renewable Energy in a report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on shares of Innergex Renewable Energy from C$13.50 to C$15.00 and gave the company a “market perform” rating in a report on Wednesday, February 13th. Raymond James set a C$17.00 price objective on shares of Innergex Renewable Energy and gave the company an “outperform” rating in a report on Wednesday. Finally, National Bank Financial lifted their price objective on shares of Innergex Renewable Energy from C$17.50 to C$18.50 and gave the company an “outperform” rating in a report on Tuesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Innergex Renewable Energy currently has an average rating of “Hold” and a consensus target price of C$15.86.
INE stock traded up C$0.10 during mid-day trading on Thursday, hitting C$13.84. 187,235 shares of the company were exchanged, compared to its average volume of 269,030. The company has a debt-to-equity ratio of 490.74, a quick ratio of 0.29 and a current ratio of 0.36. The company has a market capitalization of $1.88 billion and a P/E ratio of 67.18. Innergex Renewable Energy has a 1-year low of C$11.66 and a 1-year high of C$14.75.
About Innergex Renewable Energy
Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.
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