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Boralex (TSE:BLX) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Boralex logo with Utilities background

Key Points

  • Boralex's stock price has surged above its 200-day moving average, reaching C$30.83 during trading on Wednesday, with a closing price of C$30.73.
  • The company has received multiple analyst ratings, including upgrades from Raymond James to "moderate buy" and National Bank Financial to "strong-buy," with an average target price of C$39.22.
  • Boralex specializes in renewable energy, operating a portfolio of facilities that primarily utilize wind and hydroelectric power.
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Boralex Inc. (TSE:BLX - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.66 and traded as high as C$30.83. Boralex shares last traded at C$30.73, with a volume of 460,380 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BLX shares. Raymond James Financial upgraded shares of Boralex to a "moderate buy" rating in a research note on Thursday, May 15th. National Bankshares lifted their target price on Boralex from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research report on Thursday, June 19th. Desjardins set a C$45.00 target price on Boralex and gave the company a "top pick" rating in a research report on Wednesday, June 18th. National Bank Financial upgraded Boralex to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, Scotiabank lowered shares of Boralex from an "outperform" rating to a "sector perform" rating and set a C$36.00 target price on the stock. in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$39.22.

View Our Latest Stock Analysis on BLX

Boralex Trading Up 0.5%

The company has a fifty day moving average of C$31.86 and a two-hundred day moving average of C$29.66. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The stock has a market capitalization of C$3.20 billion, a price-to-earnings ratio of 45.05, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Company Profile

(Get Free Report)

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.

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