Boralex (TSE:BLX) Lowered to Sell Rating by TD Securities

Key Points

• TD Securities downgraded Boralex from a "buy" to a "sell" and set a C$37.25 price objective (up from C$32.00), implying only about a 1.78% upside from the recent close.
• Despite TD's cut, analysts' consensus remains a Moderate Buy with a consensus target of C$38.46 and several firms (National Bank Financial, Scotiabank) maintaining "outperform"/buy ratings.
• Boralex traded at C$36.60 on heavy volume with a market cap of C$3.76B; valuation metrics include a P/E around 610, a 52‑week range of C$23.48–C$36.72, and last quarter EPS of C$0.13 on C$258M revenue.

Boralex (TSE:BLX - Get Free Report) was downgraded by investment analysts at TD Securities from a "buy" rating to a "sell" rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$37.25 price objective on the stock, up from their previous price objective of C$32.00. TD Securities' price target suggests a potential upside of 1.78% from the stock's previous close.

Several other brokerages have also issued reports on BLX. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an "outperform" rating in a report on Tuesday. Canadian Imperial Bank of Commerce lowered their price target on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Finally, Scotiabank decreased their target price on Boralex from C$41.00 to C$39.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Boralex presently has a consensus rating of "Moderate Buy" and a consensus target price of C$38.46.

Boralex Trading Down 0.1%

Boralex stock traded down C$0.02 during midday trading on Thursday, hitting C$36.60. 1,754,044 shares of the stock were exchanged, compared to its average volume of 665,084. The company has a current ratio of 1.29, a quick ratio of 1.54 and a debt-to-equity ratio of 323.15. The stock has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 610.00, a PEG ratio of 2.01 and a beta of 0.73. The stock's 50-day simple moving average is C$27.28 and its 200 day simple moving average is C$26.84. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$36.72.

Boralex (TSE:BLX - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported C$0.13 EPS for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.The firm had revenue of C$258.00 million for the quarter. On average, equities analysts anticipate that Boralex will post 1.3383764 EPS for the current year.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex's plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.

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