Boralex Inc. shares surged 8.8% to C$33.39 after analysts suggested potential buyers might bid C$39 per share or more for the renewable energy firm, a 30% premium to pre-rumors levels. The Montreal-based company, which develops wind, solar, and hydroelectric projects across Canada, the US, France, and the UK, has formed a special committee to explore strategic options, including a possible sale. While deal details remain speculative, National Bank of Canada analyst Baltej Sidhu noted Boralex’s undervalued asset base and growth pipeline could attract private capital, citing a valuation aligning with Innergex Renewable Energy’s $10 billion 2022 acquisition. TD Cowen’s Sean Steuart added that applying Innergex’s multiple to Boralex implies a C$38.40 per share floor, though Bank of Nova Scotia’s Robert Hope raised the range to C$39.50–C$43.50, citing Boralex’s “secured growth profile.” With nearly 3,800 megawatts of installed capacity and new projects underway, Boralex’s renewable energy portfolio positions it as a strategic target for sector consolidation.