Raymond James Reaffirms Their Buy Rating on Boralex Inc Cl A (BLX)

Today, an analyst has provided a rating update for Boralex Inc Cl A (BLXResearch Report). Raymond James’ analyst David Quezada reiterates their Buy rating on the shares, with a C$26.00 price target.

According to TipRanks.com, Quezada is a 4-star analyst with an average return of 9.5% and a 72.0% success rate. Quezada covers the Utilities sector, focusing on stocks such as Northland Power, Pattern Energy, and Fortis.

Currently, the analyst consensus on Boralex Inc Cl A is a Moderate Buy with an average price target of C$25.00.

Based on Boralex Inc Cl A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$123 million and GAAP net loss of C$13 million. In comparison, last year the company earned revenue of C$80 million and had a GAAP net loss of C$34 million.

Boralex, Inc. engages in the developing and building renewable energy power facilities. It operates through the following business segments: Wind Power Stations, Hydroelectric Power Stations, Thermal Power Stations, and Solar Power Stations. The company was founded on November 9, 1982 and is headquartered in Kingsey Falls, Canada.

The company’s shares closed last Friday at C$22.05, close to its 52-week high of C$22.96.