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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2023-11-10 C$ 28.78
Market Cap C$ 2,957,608,473
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Globe says Pham maintains Boralex at "outperform"

2023-11-10 08:18 ET - In the News

The Globe and Mail reports in its Friday, Nov. 10, edition that BMO Capital Markets analyst Ben Pham is maintaining his "outperform" recommendation on Boralex. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pham cut his share target back by $4 to $36. Analysts on average target the shares at $38.70. Mr. Pham says in a note: "Q3/23 results were not as bad as feared and while Boralex (like many of its peers) is facing some project development delays, the upshot is higher potential returns on resubmission into upcoming solicitations. In the meantime, the balance sheet is in good shape and Boralex has one of the lowest payout ratios of the renewable group (approximately 50 per cent vs. 90 to 100 per cent). Similar to peers, we are lowering our target." The Globe reported on Aug. 5, 2022, and Nov. 11, 2022, that BMO Capital Markets analyst Ben Pham rated Boralex "outperform." Boralex shares could then be had for $49.38 and $38.21. The Globe reported on July 21, 2023, and Sept. 12, 2023, that Desjardins Securities analyst Brent Stadler continued to rate Boralex "buy" when it was worth $35.32 and $32.51.

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