22:33:04 EDT Mon 15 Jul 2024
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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2023-07-21 C$ 35.32
Market Cap C$ 3,629,698,793
Recent Sedar Documents

Globe says Desjardins's Stadler keeps Boralex at "buy"

2023-07-21 08:16 ET - In the News

The Globe and Mail reports in its Friday, July 21, edition that Desjardins Securities analyst Brent Stadler has reaffirmed his "buy" recommendation for Boralex. The Globe's David Leeder writes in the Eye On Equities column that Mr. Stadler, however, trimmed his share target back by a loonie top $50. Analysts on average target the shares at $47.04. Mr. Stadler says in a note: "We continue to highlight Boralex as a top-tier IPP. While we expect quarterly variability, long-term investors should look past any blips and view weakness related to poor weather as an attractive buying opportunity. Ahead of 2Q results, we have reduced our generation estimates by 10 per cent across the board to reflect weaker weather. In our view, Boralex has enjoyed another solid year of execution, and we look for the company and investors to be rewarded as the year continues and the space falls back into favour. ... We view Boralex as having best-in-class renewables platforms with strong development potential located in some of the hottest wind, solar and storage markets (Canada, U.S., EU)." The Globe reported on June 2 that Credit Suisse had boosted Boralex to "outperform" from "neutral." It was then worth $38.08.

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