Boralex Reveals its Updated Strategic Plan and Corporate Targets for 2025

Boralex Inc. (BLX), a Canadian renewable energy producer, shared its updated strategic plan and its new 2025 corporate targets during its 2021 Investor Day.

The company has four key strategic orientations, introduced in the plan launched in 2019: growth, diversification, customers, and optimization. The strategic plan also incorporates Boralex’s corporate social responsibility (CSR) strategy.

The four strategic orientations will accelerate the development of solar and wind portfolios in the high potential markets already targeted by Boralex and new markets in the United States and Europe. They will also allow the introduction of energy storage in regions with the most developed renewable energy networks.

Boralex President and CEO Patrick Decostre said, “We are proud of the work our team has accomplished in preparing this ambitious plan that will allow Boralex to accelerate its development initiatives in the high-growth renewable energy sector. This development will be carried out in a disciplined manner and with the utmost respect for environmental, social and corporate governance criteria, as our strategic plan integrates our corporate social responsibility strategy. Our goal is to become the leading CSR reference for our partners over the next few years by going beyond renewable energy.”

Boralex intends to double its power by 2025. Its objective is to increase its power from 2.2 GW at the end of 2020 to 4.4 GW by 2025. This would then reach 10 to 12 GW by 2030. The company expects its combined EBITDA to grow 9% to 11% per year to reach C$800 million to C$850 million by 2025. (See Boralex Inc stock analysis on TipRanks)

On May 25, Credit Suisse analyst Andrew Kuske kept a Hold rating on BLX but lowered its price target to C$43.00 (from C$48.00). This implies 12.4% upside potential.

Consensus among analysts is that BLX is a Moderate Buy based on 6 Buys and 3 Holds. The BLX average analyst price target of C$48.56 implies 27% upside potential to current levels.

TipRanks’ Smart Score

BLX scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to perform in line with the overall market.

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