Boralex Inc. (BLX) Price Target Increased to C$25.00 by Analysts at CIBC

Boralex Inc. (TSE:BLX) had its target price lifted by CIBC from C$24.50 to C$25.00 in a report issued on Monday, July 24th.

Several other research firms have also recently issued reports on BLX. Royal Bank Of Canada raised their target price on Boralex from C$23.00 to C$24.00 and gave the stock an outperform rating in a research note on Friday, May 5th. TD Securities reissued a buy rating and issued a C$24.00 target price on shares of Boralex in a research note on Friday, May 5th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of C$24.08.

Boralex (BLX) traded up 0.18% during trading on Monday, reaching $21.97. The company’s stock had a trading volume of 61,199 shares. The company’s 50 day moving average price is $21.66 and its 200-day moving average price is $21.37. Boralex has a 1-year low of $16.06 and a 1-year high of $23.00. The stock’s market cap is $1.67 billion.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This is a positive change from Boralex’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.73%.

In other Boralex news, Director Michelle Samson-Doel sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of C$22.10, for a total value of C$44,200.00.

Boralex Company Profile

Boralex Inc is a power producer that develops, constructs and operates renewable energy power stations. The Company’s segments include wind, hydroelectric, thermal and solar. It operates an asset base with a capacity of approximately 1,260 megawatts (MW), of which over 1,090 MW are under its control, consisting of approximately 490 MW in Canada, over 520 MW in France and over 80 MW in the Northeastern United States.

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