- TD Securities Analyst Sean Steuart downgraded Boralex ( OTCPK:BRLXF ) to Buy from Action List Buy, having said the company's valuation discount vs. the peer-group average has narrowed.
- The analyst said BRLXF's share price climbed 44% since early-Q1 lows vs. an average gain of 11% for the Canadian Renewable IPP sector average.
- The price target on the Canada-based company's stocks were maintained at C$50.
- Shares were trading ~4% up, with the analyst showing optimism on the company's prospects, its "deep organic pipeline" and strong liquidity position.
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TD Securities analyst downgrades Boralex on narrowing valuation discount