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Analysts at CIBC raised their price target on Boralex (TSE:BLX) to C$49.00.

Analysts at CIBC raised their price target on Boralex (TSE:BLX) to C$49.00.

According to BayStreet.CA, in a research report distributed to customers and investors on Tuesday, CIBC raised its price objective for Boralex (TSE: BLX) from $44.00 to $49.00. The report was sent out to investors and customers of the bank. The research did take into account this piece of information. The price goal that CIBC has established represents an upside potential that is 21.92% greater than the current price of the stock when measured against the current price of the stock.

In addition, the organization has been the focus of attention for earlier research investigations carried out by various analysts. In a research report published on Friday, December 30, Cormark announced that it was increasing its price objective on Boralex. The new price target has been raised from $55.00 to 57.50 Canadian dollars. Credit Suisse Group published a research report on November 21 indicating that their price target for Boralex had been reduced to 36.00 Canadian dollars. The Royal Bank of Canada increased its price objective on Boralex from $40.00 to $42.00 in a report released on Friday, December 30. The bank was also given the rating of “sector perform” by the bank, which indicates that the bank believes the industry will continue to benefit the company. According to a report disseminated by BMO Capital Markets on November 21, the price objective for Boralex has been revised upward to $50.00. The price target had previously been set at $53.00. Finally, in a report released on Thursday, January 5, the CSFB announced an increase in the price target they had established for Boralex, moving it from $30.00 to $38.50. This was certainly not the least important of the announcements, however. Five equity research analysts have recommended the stock to buy, while a recommendation to hold the remaining five analysts has been made. According to Bloomberg, the current average rating for Boralex is “Moderate Buy,” and the consensus price objective for the company is set at C$45.92.

During Tuesday’s trading session, the price of the TSE: BLX fell to a new low of $40.19 after experiencing a drop of 0.81 Canadian dollars. A total volume of 153,888 shares and an average volume of 248,260 shares moved during the trading session. The company’s moving averages for the past 50 and 200 days are currently at 38.72 Canadian dollars and 42.49 Canadian dollars, respectively. The price-to-earnings ratio of the stock, which stands at 121.79, and its market value, which comes to 4.13 billion Canadian dollars, are extremely high. During the previous twelve months, the price of Boralex ranged from a low of $30.04 to a high of C$51.55. Therefore, the debt-to-equity ratio is calculated to be 171.03, the quick ratio is calculated to be 1.64, and the current ratio is calculated to be 1.54, respectively.

On November 9, Boralex (TSE: BLX) announced the release of its most recent quarterly earnings report to the public. The company reported quarterly earnings per share of C ($0.41), which was significantly below the consensus expectation of C ($0.24) by C ($0.17). The earnings for the quarter were reported in Canadian dollars. The company’s quarterly sales amount was 106 million Canadian dollars, which is significantly lower than the forecasted amount of 129 million Canadian dollars. The analysts who follow the market anticipate that Boralex will generate earnings of $1.110001 per share this year.

Boralex Inc. and its subsidiaries in Canada, France, and the United States are the companies that are primarily responsible for the development, construction, and operation of renewable energy power facilities in North America. The company owned 12 solar facilities with a total installed capacity of 244 megawatts (MW), 90 wind-producing facilities with a total capacity of 2,032 MW, 16 hydroelectric facilities with a capacity of 181 MW, and one thermal plant with a capacity of 35 MW as of December 31 in the year 2021.


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