National Bank analyst Rupert Merer downgraded Innergex Renewable Energy (INE – Research Report) to a Hold today and set a price target of C$13.75. The company’s shares opened today at C$13.45.
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According to TipRanks, Merer is a 3-star analyst with an average return of 1.9% and a 43.94% success rate.
Innergex Renewable Energy has an analyst consensus of Hold, with a price target consensus of C$11.84, which is a -11.97% downside from current levels. In a report released today, Raymond James also downgraded the stock to a Hold with a C$13.75 price target.
Based on Innergex Renewable Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$244.23 million and a net profit of C$8.21 million. In comparison, last year the company earned a revenue of C$277.06 million and had a net profit of C$9.09 million