TransAlta (TA) Price Target Lowered to C$7.50 at BMO Capital Markets

TransAlta (TSE:TA) (NYSE:TAC) had its target price lowered by research analysts at BMO Capital Markets from C$8.00 to C$7.50 in a research report issued to clients and investors on Tuesday. BMO Capital Markets’ price objective points to a potential upside of 17.74% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Scotiabank lifted their price objective on TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a research note on Thursday, December 7th. National Bank Financial lifted their price objective on TransAlta from C$9.00 to C$9.50 and gave the company a “sector perform” rating in a research note on Thursday, December 7th. CIBC lifted their price objective on TransAlta from C$8.25 to C$8.50 in a research note on Thursday, December 7th. CSFB lifted their price objective on TransAlta from C$7.00 to C$8.00 and gave the company an “underperform” rating in a research note on Thursday, December 7th. Finally, Royal Bank of Canada lifted their price objective on TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of C$8.29.

Shares of TransAlta (TSE:TA) traded down C$0.23 during trading on Tuesday, reaching C$6.37. The company had a trading volume of 389,780 shares, compared to its average volume of 419,711. The stock has a market cap of $1,900.00, a PE ratio of 106.33 and a beta of 0.28. TransAlta has a 12 month low of C$6.32 and a 12 month high of C$8.50.

In other TransAlta news, insider David Fuller bought 9,832 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average price of C$47.98 per share, for a total transaction of C$471,739.36. Also, insider John Harry Kousinioris bought 18,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were acquired at an average price of C$7.49 per share, with a total value of C$140,812.00. In the last 90 days, insiders have purchased 38,932 shares of company stock valued at $692,788.

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TransAlta Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

Analyst Recommendations for TransAlta (TSE:TA)

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