Boralex (TSE:BLX) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Boralex stock crossed above its 200‑day moving average, trading as high as C$36.82 and last at C$36.78 versus the 200‑day MA of C$28.45 on volume of about 492,535 shares, signaling a bullish technical move.
• Analysts are mixed but the consensus is a Moderate Buy with an average target of C$38.46 (individual targets ~C$36–39), while fundamentals show a very high P/E of 613 and heavy leverage (debt/equity 323%), indicating potential valuation and balance‑sheet risk.

Boralex Inc. (TSE:BLX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$28.45 and traded as high as C$36.82. Boralex shares last traded at C$36.78, with a volume of 492,535 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BLX shares. TD Securities lowered Boralex from a "buy" rating to a "sell" rating and increased their price target for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. 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 report on Wednesday, January 21st. National Bank Financial set a C$39.00 target price on Boralex and gave the company an "outperform" rating in a research note on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce cut their price target on Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Boralex currently has an average rating of "Moderate Buy" and a consensus price target of C$38.46.

Boralex Stock Performance

The stock has a market cap of C$3.78 billion, a price-to-earnings ratio of 613.00, a P/E/G ratio of 2.01 and a beta of 0.04. 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 firm has a fifty day simple moving average of C$32.44 and a 200-day simple moving average of C$28.45.

Boralex (TSE:BLX - Get Free Report) last released its earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$258.00 million during the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. Analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Company Profile

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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