CIBC Keeps Their Hold Rating on Innergex Renewable Energy

Innergex Renewable Energy (TSX: INE), the Utilities sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. Analyst Mark Jarvi from CIBC rated Innergex Renewable Energy (TSX: INE) a Hold, setting a C$15 price target.

According to TipRanks.com, Jarvi is ranked #2701 out of 4830 analysts.

Innergex Renewable Energy has an analyst consensus of Hold, with a price target consensus of C$15.

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$2.46 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 Thursday at C$13.61.