BMO Capital Believes Boralex Inc. Cl A (TSX: BLX) Still Has Room to Grow

By Ryan Adsit

Today, an analyst has provided a rating update for the Utilities sector company, Boralex Inc. Cl A (TSX: BLX). Analyst Benjamin Pham from BMO Capital remains bullish on the stock and has a C$25 price target.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 10.3% and a 86.0% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Energy, Atlantic Power Corp, and Pattern Energy.

Currently, the analyst consensus on Boralex Inc. Cl A is Strong Buy and the average price target is C$24.40, representing a 10.6% upside.

In a report issued on June 9, RBC Capital also reiterated a Buy rating on the stock with a C$24 price target.

The company has a one year high of C$23 and a one year low of C$16.06. Currently, Boralex Inc. Cl A has an average volume of 185.2K.

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.,003M9T-E

The company’s shares closed last Thursday at $22.06, close to its 52-week high of $23.