Brokerages Set Boralex Inc. (OTCMKTS:BRLXF) Price Target at $48.46

Shares of Boralex Inc. (OTCMKTS:BRLXF) have been assigned an average rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $48.46.

Several equities research analysts have commented on the company. Desjardins boosted their price objective on Boralex from C$50.00 to C$53.00 and gave the stock a “buy” rating in a research note on Monday, June 21st. Scotiabank cut their price objective on Boralex from C$55.00 to C$52.25 and set an “outperform” rating for the company in a research note on Monday, August 9th. Credit Suisse Group cut their price objective on Boralex from C$48.00 to C$43.00 and set a “neutral” rating for the company in a research note on Tuesday, May 25th. Finally, CIBC boosted their price objective on Boralex from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th.

BRLXF stock remained flat at $$31.10 on Friday. The company had a trading volume of 6 shares, compared to its average volume of 1,729. Boralex has a 1 year low of $24.50 and a 1 year high of $44.17. The stock’s 50-day simple moving average is $30.35 and its 200 day simple moving average is $31.10.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United States. As of December 31, 2020, the company had interests in 88 wind power stations with an installed capacity of 2,002 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; two thermal power stations with an installed capacity of 47 MW; and 10 solar power stations with an installed capacity of 225 MW.

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Analyst Recommendations for Boralex (OTCMKTS:BRLXF)

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