Boralex Inc Class A

BLX: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 38.00	Dcsl	Tqlwypt

Boralex Earnings: Weak Wind Resource Weighs; Shares Undervalued

Brett Castelli

Nov 9, 2023

We've trimmed our fair value estimate for no-moat Boralex to CAD 36 per share from CAD 38 following the company's third-quarter results. The slightly lower valuation is a result of tweaks to our medium-term project development assumptions. We view the shares as undervalued.

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