TD Securities Forecasts Strong Price Appreciation for Innergex Renewable Energy (TSE:INE) Stock

Innergex Renewable Energy (TSE:INE) had its price objective hoisted by TD Securities from C$8.00 to C$9.00 in a research report released on Friday,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Other research analysts also recently issued reports about the company. Scotiabank decreased their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. CIBC reduced their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. National Bankshares reduced their price target on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Finally, Cormark reduced their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$11.81.

Innergex Renewable Energy Stock Up 5.0 %

TSE:INE opened at C$8.95 on Friday. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The company has a market cap of C$1.84 billion, a PE ratio of -14.35, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 52-week low of C$6.98 and a 52-week high of C$10.96. The stock has a 50-day simple moving average of C$7.79 and a 200 day simple moving average of C$8.80.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.