Newalta Co. (NAL) Receives C$2.70 Consensus PT from Analysts
Newalta Co. (TSE:NAL) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$2.70.
A number of analysts have recently issued reports on the company. Canaccord Genuity boosted their target price on Newalta to C$3.50 and gave the stock a “speculative buy” rating in a report on Saturday, August 6th. Scotiabank reiterated an “outperform” rating and set a C$5.00 target price on shares of Newalta in a report on Friday, August 5th. GMP Securities cut Newalta from a “hold” rating to a “reduce” rating in a report on Friday, August 5th. TD Securities reiterated a “hold” rating and set a C$2.50 target price on shares of Newalta in a report on Thursday, August 4th. Finally, National Bank Financial cut Newalta from an “outperform” rating to a “sector perform” rating and set a C$2.00 target price for the company. in a report on Thursday, November 10th.
Shares of Newalta (TSE:NAL) opened at 1.69 on Friday. The firm’s market cap is $148.97 million. The firm’s 50-day moving average is $2.16 and its 200-day moving average is $2.24. Newalta has a 12-month low of $1.45 and a 12-month high of $5.14.
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Newalta Corporation is a Canada-based provider of engineered environmental solutions to the oil and gas industry. The Company’s segments include Heavy Oil and Oilfield. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.
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