23:11:38 EDT Mon 15 Jul 2024
Enter Symbol
or Name

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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2024-01-10 C$ 33.72
Market Cap C$ 3,465,273,027
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Globe says Boralex still an "outperformer" for Jarvi

2024-01-10 08:35 ET - In the News

The Globe and Mail reports in its Wednesday, Jan. 10, edition that CIBC analyst Mark Jarvi has reaffirmed his "outperformer" recommendation for Boralex. The Globe's David Leeder writes in the Eye On Equities column that Mr. Jarvi gave his share target a $2 boost to $41. Analysts on average target the shares at $39.50. Mr. Jarvi says in a note: "2023 was a challenging year for renewables and the Alberta power names limped into year-end. We are optimistic a recovery will come in the next few years. We might be early on the renewables call but we see attractive upside for investors willing take a bit more risk (preferred names: Boralex, Northland Power). The outlook for the regulated utilities is fairly stable: it is hard to get excited on valuation and earnings-per-share upside, but we believe some core exposure (lean toward quality over recovery) makes sense to hedge against macro/market uncertainty." The Globe reported on Aug. 22 that Mr. Jarvi had reaffirmed his "outperformer" recommendation for Boralex when it could be had for $33.44. The Globe reported on July 21 and Sept. 12 that Desjardins Securities analyst Brent Stadler continued to rate Boralex "buy" when it was worth $35.32 and $32.51.

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