Section1: Company Overview

Innergex Renewable Energy Inc. (TSX: INE) has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets. This Report covers the Investment Highlights, Key Financial Metrics, Risks, and Recommendation on the stock.

1.1 The Key Investment Highlights, and Risks

Section2:  Financial Highlights

 2.1 Key Financial Highlights

Section 3:  Stock Recommendation Summary

3.1 Valuation Methodology

3.2 Price Performance and Stock Recommendation

The stock has witnessed an upside of ~19.81% in 1 month and an upside of ~7.57% over the last 3 months. The stock has a 52-week high and 52-week low of CAD 10.95 and CAD 6.98, respectively and is currently trading slightly above the average of 52-week high-low, providing an opportunity to exit, as the prices are approaching the resistance level.  

3.3 One-Year Technical Price Chart

One-Year Technical Price Chart (as of February 21, 2025). Source: REFINITIV, Analysis: Kalkine Group

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, and currency as of February 21, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

 Note 4: Dividend Yield may vary as per the stock price movement.