Transalta Stock Rating Lowered by Canaccord Genuity (TA)
Transalta (TSE:TA) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, American Banking News.com reports. They currently have a C$14.00 target price on the stock, down from their previous target price of C$18.00. Canaccord Genuity’s target price would suggest a potential upside of 1.97% from the stock’s previous close.
Shares of 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’s 50-day moving average is $14.28 and its 200-day moving average is $13.93. The company has a market cap of $3.629 billion and a price-to-earnings ratio of 59.70.
TransAlta Corporation (TSE:TA), is engaged in the production and sale of electric energy.
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