Canaccord Genuity Reaffirms Their Hold Rating on Innergex Renewable Energy


Innergex Renewable Energy (TSX: INE), the Utilities sector company, has received a rating update from a Wall Street analyst today. Analyst David Galison from Canaccord Genuity rated Innergex Renewable Energy (TSX: INE) a Hold, setting a C$14.50 price target.

According to TipRanks.com, Galison is ranked #840 out of 4824 analysts.

Currently, the analyst consensus on Innergex Renewable Energy is a Hold with an average price target of C$15.20.

Based on Innergex Renewable Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$6.62 million. In comparison, last year the company had a net profit of C$14.57 million.

Innergex Renewable Energy, Inc. develops, acquires, owns and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms and geothermal power generation plants. The company conducts operations in Canada, the United States, France and Iceland.

The company’s shares closed on Friday at C$13.81.

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