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Transalta (TSE:TA) was downgraded by equities researchers at CIBC from a “sector perform” rating to an “underperform” rating in a research report issued on Friday, Stock Ratings News reports. They currently have a C$12.00 target price on the stock, down from their previous target price of C$15.50. CIBC’s price target would indicate a potential downside of 12.60% from the company’s current price.

Transalta (TSE:TA) opened at 13.53 on Friday. Transalta has a 52 week low of $12.80 and a 52 week high of $16.69. The stock has a 50-day moving average of $14.28 and a 200-day moving average of $13.93. The company has a market cap of $3.629 billion and a price-to-earnings ratio of 59.70.

Separately, analysts at Canaccord Genuity downgraded shares of Transalta from a “buy” rating to a “hold” rating in a research note on Friday. They now have a C$14.00 price target on the stock, down previously from C$18.00. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of C$13.11.

TransAlta Corporation (TSE:TA), is engaged in the production and sale of electric energy.

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