TransAlta (TA) has received a rating update from a Wall Street analyst today. The company received a Buy rating from Scotiabank’s analyst Robert Hope, with a C$10 price target.
Hope has an average return of 12.1% when recommending TransAlta.
According to TipRanks.com, Hope is ranked #1435 out of 5220 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TransAlta with a C$9.25 average price target.
Based on TransAlta’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$593 million and GAAP net loss of C$76 million. In comparison, last year the company earned revenue of C$638 million and had a GAAP net loss of C$135 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 Thursday at C$8.01.
