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

By Carrie Williams

Boralex Inc. Cl A (TSX: BLX), the Utilities sector company, was revisited by a Wall Street analyst today. Analyst Bill Cabel from Desjardins reiterated a Buy rating, with a C$26 price target.

Cabel has an average return of 23.1% when recommending Boralex Inc. Cl A.

According to, Cabel is ranked #618 out of 4743 analysts.

Currently, the analyst consensus on Boralex Inc. Cl A is Strong Buy and the average price target is C$25.83, representing an 11.0% upside.

In a report issued on January 10, CIBC also reiterated a Buy rating on the stock with a C$26 price target.

Based on Boralex Inc. Cl A’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$75 million and GAAP net loss of C$16 million. In comparison, last year the company earned revenue of C$75.74 million and had a GAAP net loss of C$4.84 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 on Friday at C$23.26, close to its 52-week high of C$23.82.