TransAlta (TA) Receives a Hold from National Bank


TransAlta (TA), the Utilities sector company, was revisited by a Wall Street analyst today. The company received a Hold rating from National Bank’s analyst Patrick Kenny, with a C$9.50 price target.

According to TipRanks.com, Kenny is a 4-star analyst with an average return of 9.3% and a 88.5% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

Currently, the analyst consensus on TransAlta is a Hold with an average price target of C$9.50, implying a 4.1% upside from current levels. In a report issued on March 19, Credit Suisse also upgraded the stock to Hold with a C$10 price target.

.

Based on TransAlta’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$622 million and GAAP net loss of C$102 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$9.13, close to its 52-week high of C$9.21.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts