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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2024-01-30 C$ 32.50
Market Cap C$ 3,339,898,380
Recent Sedar Documents

Globe says Boralex, Innergex rated "top pick" and "buy"

2024-01-30 09:02 ET - In the News

Also In the News (C-INE) Innergex Renewable Energy Inc

The Globe and Mail reports in its Tuesday, Jan. 30, edition that Desjardins analyst Brent Stadler raised his share targets for both Boralex and Innergex Renewable Energy after they were awarded wind power projects by Hydro-Quebec on Friday. The Globe's David Leeder writes that Mr. Stadler says, "We expect 10 to 12-per-cent-plus levered IRRs, and at the midpoint, we estimate the projects are worth 65 cents per share and 20 cents per share to Boralex and Innergex." Mr. Stadler increased his Boralex share target by $1 to $44, keeping a "top pick" recommendation. His Innergex share target rose to $14.50 from $14 with a "buy" rating. Mr. Stadler says in a note: "We expect annual recurring auctions in Quebec and believe both companies will likely remain well-positioned in that process. The auction success gives us further confidence that Boralex could likely be the top grower in the space, while we see good value in Innergex's shares at current trading levels." The Globe reported on July 21 and Sept. 12 that Mr. Stadler continued to rate Boralex "buy" when it was worth $35.32 and $32.51. The Globe reported on Jan. 10 that National Bank named Innergex a top pick for 2024. It was then worth $9.36.

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