Wall Street analyst has provided a rating update for the Utilities sector company today, while remaining neutral on the stock. Analyst Benjamin Pham from BMO Capital reiterated a Hold rating on TransAlta (TSX: TA), with a C$8.50 price target.
According to TipRanks.com, Pham is ranked #602 out of 4869 analysts.
Currently, the analyst consensus on TransAlta is a Hold with an average price target of C$8.17.
Based on TransAlta’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$446 million and GAAP net loss of C$95 million. In comparison, last year the company earned revenue of C$503 million and had a GAAP net loss of C$8 million.
TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate.
The company’s shares closed on Tuesday at C$7.43.
