Revised Targets CIBC’s Mark Jarvi lowered his Boralex Inc. target to $46 from $48 with an “outperformer” rating, while Raymond James’ David Quezada cut his target to $50.50 from $53 with an “outperform” rating. . The average is $47.42.
“Our constructive stance on BLX is based on an attractive development portfolio, strong balance sheet, reasonable valuation, and greenfield development capabilities,” Mr. Quezada said. “We also point to supportive industry tailwinds measures implemented to accelerate renewable development in France and emerging opportunities in the US, robust renewable procurement expected in Quebec, and storage opportunities in Ontario.We have made tweaks to our model resulting a reduction in our target price, but affirm our view of BLX as a top renewable power name.”