Analysts Set Boralex Inc. (BLX) Price Target at $24.17

Boralex Inc. (TSE:BLX) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$24.08.

Several equities research analysts have recently issued reports on BLX shares. CIBC raised their price target on shares of Boralex from C$24.50 to C$25.00 in a research note on Monday, July 24th. Royal Bank Of Canada raised their price target on shares of Boralex from C$23.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Finally, TD Securities reaffirmed a “buy” rating and set a C$24.00 price objective on shares of Boralex in a report on Friday, May 5th.

Boralex (TSE:BLX) opened at 21.86 on Tuesday. Boralex has a 12 month low of $16.06 and a 12 month high of $23.00. The firm’s 50-day moving average price is $21.65 and its 200-day moving average price is $21.26. The firm’s market cap is $2.19 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 31st will be given a $0.15 dividend. This is a boost from Boralex’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%.

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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.

Analyst Recommendations for Boralex (TSE:BLX)

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