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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2023-08-16 C$ 32.93
Market Cap C$ 3,384,087,805
Recent Sedar Documents

Globe says Merer keeps Boralex at "outperform"

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

The Globe and Mail reports in its Wednesday, Aug. 16, edition that National Bank Financial analyst Rupert Merer has reaffirmed his "outperform" recommendation for Boralex. The Globe's David Leeder writes in the Eye On Equities column that Mr. Merer cut his share target to $43 from $44. Analysts on average target the shares at $45.31. Mr. Merer says Boralex's results matched expectations and should be considered a "win" in a "messy" second quarter for the sector. On Monday Boralex posted a profit attributable to shareholders of 19 cents per diluted share, up 10 cents during the same period ago, as revenue from energy sales and feed-in premiums saw notable gains. Mr. Merer says in a note: "Boralex reported proportionate generation of 1,861 GWh, slightly above our 1,816 GWh, driven by better wind generation of 1,484 GWh (NBF 1,422 GWh). Proportionate revenue came in at $237-million versus our $249-million and prop. Adj. EBITDA came in at $143-million, directly in line with NBF (cons. $138-million). To start Q3, production out of France looks to be stronger than ever for the first half of Q3E, which should set Boralex up well to deliver strong results if the weather continues."

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