Boralex Inc Class A

BLX: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 76.00	Zktb	Rqtfyhfx

Recent French Policies Likely to Limit Some of Power Price Upside for Boralex

Brett Castelli

Nov 9, 2022

We've trimmed our fair value estimate for Boralex to CAD 41 per share from CAD 42 following third-quarter results. Our no-moat rating is unchanged. The primary drivers of the change are recent French policies that are likely to limit some of the upside Boralex was positioned to capture from high power prices. We view shares as slightly undervalued.

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