The Globe and Mail reports in its Tuesday, Aug. 12, edition that Scotia Capital analyst Robert Hope has reaffirmed his "sector perform" recommendation for Boralex. The Globe's David Leeder writes that Mr. Hope's share target dropped by a loonie to $35. Analysts on average target the shares at $38.55. Mr. Hope says in a note: "Boralex shares were quite weak (down 5 per cent) following its Q2 results that missed expectations on weak European pricing and generation as well as the surprise announcement that Bruno Guilmette, EVP and CFO, will be stepping down to pursue another opportunity. That being said, we see this as an overreaction given the company's overall bench strength and increasing visibility to its longer-term strategic plan. Our EBITDA estimates move down slightly to reflect the quarter as well as the slight delay of some project in-service dates. This in part brings down our target. ... We view Boralex as an easy-to-own, high-quality renewable power developer. Boralex is currently trading at 10.9 times 2027E EV/EBITDA versus our target multiple of 11.8 times." The Globe reported on July 18 that Scotia Capital had cut Boralex from "sector outperform" to "sector perform." It was then worth $31.73.