Boralex (BLX) Stock Forecast & Price Target

C$31.19

-0.53 (-1.67%)

(As of 09/6/2024 ET)

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Boralex - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy
Based on 9 Analyst Ratings

Based on 9 Wall Street analysts who have issued ratings for Boralex in the last 12 months, the stock has a consensus rating of "Buy." Out of the 9 analysts, 1 has given a hold rating, 6 have given a buy rating, and 2 have given a strong buy rating for BLX.

Consensus Price Target

C$43.22
38.58% Upside

High Forecast	C$47.00
Average Forecast	C$43.22
Low Forecast	C$38.00

According to the 9 analysts' twelve-month price targets for Boralex, the average price target is C$43.22. The highest price target for BLX is C$47.00, while the lowest price target for BLX is C$38.00. The average price target represents a forecasted upside of 38.58% from the current price of C$31.19.

Type	Current Forecast 9/8/23 to 9/7/24	1 Month Ago 8/9/23 to 8/8/24	3 Months Ago 6/10/23 to 6/9/24	1 Year Ago 9/8/22 to 9/8/23
Consensus Rating	Buy	Buy	Buy	Moderate Buy
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	7 Buy rating(s)	6 Buy rating(s)	6 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$43.22	C$41.67	C$40.63	C$46.73
Forecasted Upside	38.58% Upside	33.93% Upside	32.30% Upside	27.85% Upside

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BLX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

BLX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Boralex Stock vs. The Competition

Type	Boralex	Utilities Companies
Consensus Rating Score	3.11	2.46
Consensus Rating	Buy	Hold
News Sentiment Rating	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/5/2024	BMO Capital Markets 4 of 5 stars		Boost Target		C$39.00 ➝ C$46.00	+43.75%
8/15/2024	Cormark 2 of 5 stars		Boost Target		C$45.00 ➝ C$47.00	+35.41%
8/15/2024	Raymond James 4 of 5 stars		Boost Target		C$38.00 ➝ C$41.00	+18.12%
8/15/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$36.00 ➝ C$38.00	+9.48%
7/22/2024	Cibc World Mkts Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Jarvi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/22/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$41.00 ➝ C$42.00	+25.07%
Get the Latest News and Ratings for BLX and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Boralex and its competitors with MarketBeat's FREE daily newsletter.
7/8/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$43.00 ➝ C$46.00	+34.39%
6/21/2024	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Top Pick	C$44.00 ➝ C$46.00	+37.52%
6/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Hope Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform	C$38.00 ➝ C$42.00	+19.73%
10/18/2023	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	C$46.00 ➝ C$41.00	+51.24%
8/22/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$44.00 ➝ C$47.00	+41.01%
11/21/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Andrew Kuske Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		C$36.00	+0.67%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 11:31 PM ET.

BLX Forecast - Frequently Asked Questions

What is Boralex's forecast for 2024?: According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Boralex is C$43.22, with a high forecast of C$47.00 and a low forecast of C$38.00.
Should I buy or sell Boralex stock right now?: 9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Boralex in the last year. There is currently 1 hold rating, 6 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" BLX shares.
Does Boralex's stock price have much upside?: According to analysts, Boralex's stock has a predicted upside of 34.64% based on their 12-month stock forecasts.
Has Boralex been upgraded by Wall Street analysts recently?: Over the previous 90 days, Boralex's stock had 1 upgrade by analysts.
What analysts cover Boralex?: Boralex has been rated by research analysts at BMO Capital Markets, CIBC, Cibc World Mkts, Cormark, Desjardins, National Bankshares, Raymond James, Royal Bank of Canada, and Scotiabank in the past 90 days.
Do Wall Street analysts like Boralex more than its competitors?: Analysts like Boralex more than other "utilities" companies. The consensus rating for Boralex is Buy while the average consensus rating for "utilities" companies is Hold. Learn more on how BLX compares to other companies.