Boralex Inc. (BLX) Price Target Cut to C$24.50 by Analysts at CIBC

Boralex Inc. (TSE:BLX) had its price target cut by CIBC from C$25.00 to C$24.50 in a report issued on Thursday. CIBC’s target price would indicate a potential upside of 11.16% from the stock’s current price.

A number of other research analysts have also recently commented on BLX. Royal Bank Of Canada boosted their target price on shares of Boralex from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. TD Securities reaffirmed a “buy” rating and issued a C$24.00 price target on shares of Boralex in a report on Friday, May 5th. Seven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of C$24.08.

Shares of Boralex (BLX) traded down 0.54% during midday trading on Thursday, hitting $21.92. 33,363 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $21.67 and its 200-day moving average is $21.35. The stock’s market cap is $1.66 billion. Boralex has a 1-year low of $16.06 and a 1-year high of $23.00.

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In other Boralex news, Director Michelle Samson-Doel sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of C$22.00, for a total transaction of C$88,000.00.

About Boralex

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2016, the company had interests in 50 wind power stations with an installed capacity of 798 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power facilities with an installed capacity of 16 MW.

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