Innergex Renewable Energy Inc T.INE.PR.A

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[Vega1357]

After yesterday's large advance in the share price, I anticipated a pullback and we got it which I used to buy back most of the shares of INE that I sold yesterday. I got them at an average price of $21.24 in my margin account and $21.12 in my RRIF. I continue to be bullish on this stock. The average analysts' price target for INE according to Marketbeat is $25.43 giving it an average appreciation potential of 21% which is pretty good. Going to the high end of the analysts price targets ($27 in the case of the National Bank and National Bankshares) gives one an appreciation potential of 28% which is superb. And I would be remiss if I didn't mention INE's 52 week high of $32.48 reached in January 2021. If it returned to that level, the stock would have appreciated 54% from today's close. I think I've provided plenty of reasons here to buy INE.

[pantonor]

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[STOCKWIZ]

My broker got me in as well at $21.24. Wanted to deploy some cash and there is very little outside of energy that represents opportunity. I think we are good with this one for the next 24 months. Decent yield too with potential increases.

[apollojetic]

Depending on if we get a market correction in Sept-Oct we will probably test $20.00 again. Stocks like INE always ride higher after upgrades. This is a great long term hold but you have to be patient and hope they execute their plan and even add some on weakness. Hydro Quebec as 19.9% owner is the key here for stability. The market gives them a lower yield based on strong fundamentals in the