Scotiabank Has Lowered Expectations for Boralex (TSE:BLX) Stock Price

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

BLX has been the subject of several other research reports. CIBC decreased their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets decreased their target price on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$40.88.

Boralex Price Performance

Shares of BLX opened at C$25.05 on Thursday. The firm has a market cap of C$2.57 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.01 and a beta of 0.46. The stock has a 50 day moving average of C$28.32 and a 200-day moving average of C$31.93. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. Boralex has a 52 week low of C$24.40 and a 52 week 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.