CIBC Sticks to Their Hold Rating for TransAlta (TA)


TransAlta (TSX: TA), the Utilities sector company, was revisited by a Wall Street analyst yesterday. Analyst Mark Jarvi from CIBC rated TransAlta (TSX: TA) a Hold, setting a C$8.50 price target.

According to TipRanks.com, Jarvi is ranked #2631 out of 4849 analysts.

TransAlta has an analyst consensus of Hold, with a price target consensus of C$7.83, representing a 3.7% upside. In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a C$7.50 price target.

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The company has a one-year high of C$8.32 and a one-year low of C$6.31. Currently, TransAlta has an average volume of 571.9K.

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 Friday at C$7.55.

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