TransAlta Co. (TSE:TA) Given a C$8.00 Price Target by Scotiabank Analysts
TransAlta Co. (TSE:TA) (NYSE:TAC) received a C$8.00 price target from stock analysts at Scotiabank in a report issued on Friday. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 0.25% from the stock’s current price.
TA has been the topic of several other reports. BMO Capital Markets restated a “market perform” rating and set a C$8.00 price objective on shares of TransAlta in a report on Tuesday, May 23rd. TD Securities reissued a “hold” rating and issued a C$8.00 price objective on shares of TransAlta in a research report on Friday, April 21st. Finally, National Bank Financial raised their price objective on TransAlta from C$8.50 to C$9.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of C$8.29.
TransAlta (TA) traded down 1.12% during trading on Friday, hitting $7.93. The stock had a trading volume of 503,245 shares. The stock has a 50 day moving average price of $8.10 and a 200-day moving average price of $7.60. TransAlta has a 12 month low of $5.11 and a 12 month high of $8.50. The stock has a market cap of $2.38 billion and a price-to-earnings ratio of 75.52.
In related news, insider Francois Gratton sold 555 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of C$45.69, for a total value of C$25,357.95.
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.
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