CIBC Believes TransAlta (TAC) Won’t Stop Here

In a report released today, Mark Jarvi from CIBC reiterated a Buy rating on TransAlta (TAC), with a price target of C$13.50. The company’s shares closed last Tuesday at $9.70, close to its 52-week high of $10.05.

According to, Jarvi is a 4-star analyst with an average return of 15.6% and a 72.1% success rate. Jarvi covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Just Energy Group, and Northland Power.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TransAlta with a $11.39 average price target.

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TransAlta’s market cap is currently $2.61B and has a P/E ratio of -10.20. The company has a Price to Book ratio of 5.14.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TAC in relation to earlier this year.

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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 Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, and Hydro segments are responsible for constructing, operating and maintaining its electrical generation. The Energy Marketing segment engages in marketing its production through short-term and long-term contracts. The Corporate segment deals with its central financial, legal, administrative, and investing functions. TransAlta was founded in 1909 and is headquartered in Calgary, Canada.

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