CIBC Boosts Boralex (TSE:BLX) Price Target to C$26.50

Boralex (TSE:BLX) had its target price increased by CIBC from C$25.00 to C$26.50 in a report published on Friday, BayStreet.CA reports.

BLX has been the topic of a number of other research reports. TD Securities lifted their price target on Boralex from C$24.00 to C$25.00 and gave the stock a buy rating in a research note on Friday, November 8th. BMO Capital Markets lifted their price target on Boralex from C$23.00 to C$26.00 in a research note on Monday, September 9th. National Bank Financial lifted their price target on Boralex from C$25.00 to C$26.00 and gave the stock an outperform rating in a research note on Friday, November 8th. Finally, Raymond James reissued an outperform rating and issued a C$26.00 price target on shares of Boralex in a research note on Friday, November 8th.

Shares of BLX opened at C$24.85 on Friday. The business’s 50-day moving average price is C$22.75 and its 200 day moving average price is C$20.91. The stock has a market capitalization of $2.33 billion and a P/E ratio of -217.98. Boralex has a 1-year low of C$15.96 and a 1-year high of C$24.85. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 465.31.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.66 dividend on an annualized basis and a yield of 2.66%. Boralex’s dividend payout ratio is currently -578.95%.

Boralex Company Profile

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, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 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 stations with an installed capacity of 16 MW.

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