23:40:30 EDT Mon 15 Jul 2024
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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2024-06-12 C$ 34.85
Market Cap C$ 3,581,398,724
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Globe says Boralex maintained at "sector outperform"

2024-06-13 07:00 ET - In the News

The Globe and Mail reports in its Thursday edition that while the sentiment for the renewable energy sector is becoming "more positive," resulting in recent share price appreciation, Scotia Capital's Robert Hope sees a number of tailwinds for further gains "from a more visible growth outlook driven by increasing power demand, the stabilization of interest rates and improving supply chains." The Globe's David Leeder writes that accordingly, Mr. Hope boosted his share target for Boralex to $42 from $38. Analysts on average target the shares at $39.50. Mr. Hope maintains Boralex at "sector outperform." Mr. Hope says in a note: "Over the last two months, it appears that the news flow for the renewables group has shifted positive, which is a stark contrast to the numerous negative updates through 2023. These favourable updates have turned sentiment more positive on the sector, though we note that prior sentiment for the group was tepid at best. When we assumed coverage of Boralex, Innergex Renewable and Northland Power mid-April, we questioned what catalysts there were to improve sentiment and get investors to re-engage in the space. It appears the [company's] updates were the spark to get investors interested in the space."

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