Boralex Inc Class A

BLX: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 19.00	Flr	Ydbdprnb

Boralex Well Positioned to Benefit From Elevated French Power Prices; Raising FVE to CAD 42

Brett Castelli

Aug 4, 2022

We've raised our fair value estimate for Boralex to CAD 42 per share from CAD 38 following second-quarter results. The primary driver of this increase is raising our revenue forecast sharply over the next few years on elevated French power prices, which we previously underappreciated. We view the shares as slightly overvalued relative to our revised fair value estimate.

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