Today, an analyst has provided a rating update for the Utilities sector company, Innergex Renewable Energy (INE). The company received a Buy rating from Raymond James’ analyst David Quezada, with a C$17 price target.
Quezada has an average return of 10.1% when recommending Innergex Renewable Energy.
According to TipRanks.com, Quezada is ranked #1243 out of 5224 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Innergex Renewable Energy with a C$15.90 average price target, an 11.8% upside from current levels. In a report issued on February 19, National Bank also maintained a Buy rating on the stock with a C$18.50 price target.
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Based on Innergex Renewable Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$10.74 million. In comparison, last year the company had a net profit of C$7.11 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$14.22.
