TransAlta (TA) Price Target Cut to C$7.50

TransAlta (TSE:TA) (NYSE:TAC) had its price target decreased by BMO Capital Markets from C$8.00 to C$7.50 in a research report released on Tuesday.

Several other analysts also recently commented on TA. National Bank Financial cut their target price on TransAlta from C$9.50 to C$8.00 and set a sector perform rating on the stock in a research note on Monday, January 29th. Scotiabank increased their target price 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. CIBC increased their target price on TransAlta from C$8.25 to C$8.50 in a research note on Thursday, December 7th. CSFB increased their target price 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 increased their target price 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 equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. TransAlta has an average rating of Hold and an average price target of C$8.29.

TransAlta (TSE TA) opened at C$6.51 on Tuesday. TransAlta has a 52-week low of C$6.31 and a 52-week high of C$8.50. The firm has a market capitalization of $1,870.00, a P/E ratio of 108.50 and a beta of 0.28.

In other news, insider John Harry Kousinioris purchased 18,800 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average cost of C$7.49 per share, for a total transaction of C$140,812.00. Also, insider David Fuller purchased 9,832 shares of the company’s stock in a transaction dated 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. Over the last quarter, insiders have acquired 38,932 shares of company stock worth $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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