Boralex Inc Class A

BLX: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 37.00	Lkytl	Jghbbny

Boralex Earnings: Growth Path Supported by Recent Ontario Battery Storage Project Wins

Brett Castelli

Aug 14, 2023

We trim our fair value estimate for Boralex to CAD 38 from CAD 39 following the company's second-quarter results. The slightly lower valuation is a result of tweaks to our cost of capital and project return assumptions. We view the shares as undervalued.

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