In a new note to investors today, an analyst has provided a rating update for TransAlta (TA). Patrick Kenny, an analyst with National Bank, has upgraded their rating on TA to Buy , with a C$8 price target.
According to TipRanks.com, Kenny is a 1-star analyst with an average return of -1.8% and a 54.5% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
TransAlta has an analyst consensus of Hold, with a price target consensus of C$8.
TransAlta’s market cap is currently C$1.92B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.86.
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 Wednesday at C$7.
