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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2024-05-28 C$ 33.32
Market Cap C$ 3,424,166,585
Recent Sedar Documents

Globe says Merer keeps Boralex at "sector perform"

2024-05-29 08:29 ET - In the News

The Globe and Mail reports in its Wednesday, May 29, edition that National Bank Financial analyst Rupert Merer, predicting growth in Canada and globally, says the widening demand for power has sparked increased investor interest in renewable energy companies. The Globe's David Leeder writes in the Eye On Equities column that Mr. Merer has reaffirmed his "outperform" recommendation for Boralex. Mr. Merer boosted his share target to $43 from $41. Analysts on average target the shares at $38.90. Mr. Merer says in a note: "Interest in the IPPs [independent power producers] is recovering, with an improving outlook for growth and with rising costs and bond yields now in the rear-view mirror. Power demand in North America could double over the next 25 years, backed by data centre demand, electrification, reshoring of manufacturing and population growth. With this and a market push to green power, the sector has a long runway. IPPs with exposure to the Canadian market are well positioned, as the market seems to have less competition (so far) and should benefit from a 30-per-cent Canadian ITC [investment tax credit]." Mr. Merer says Boralex is one of his "top picks."

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