Scotiabank set a C$9.00 target price on TransAlta (TSE:TA) (NYSE:TAC) in a report released on Tuesday, March 6th. The firm currently has an outperform rating on the stock.
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of TransAlta from C$7.50 to C$8.00 and gave the company a market perform rating in a report on Monday, March 5th. GMP Securities boosted their target price on shares of TransAlta from C$8.25 to C$8.50 in a research report on Monday, March 5th. National Bank Financial dropped their price target on shares of TransAlta from C$9.50 to C$8.00 and set a sector perform rating for the company in a research note on Monday, January 29th. CIBC boosted their target price on shares of TransAlta from C$8.25 to C$8.50 in a research note on Thursday, December 7th. Finally, CSFB upped their price target on shares of TransAlta from C$7.00 to C$8.00 and gave the stock an underperform rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of C$8.38.
TransAlta (TSE TA) opened at C$7.46 on Tuesday. The firm has a market cap of $2,150.00, a PE ratio of -11.30 and a beta of 0.20. TransAlta has a twelve month low of C$6.31 and a twelve month high of C$8.50.
In related news, Director Gordon Giffin purchased 5,000 shares of the stock in a transaction on Tuesday, March 6th. The shares were bought at an average price of C$5.68 per share, for a total transaction of C$28,400.00. Also, insider John Harry Kousinioris acquired 18,800 shares of TransAlta stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of C$7.49 per share, with a total value of C$140,812.00. Insiders bought a total of 24,034 shares of company stock worth $179,630 in the last quarter.
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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.
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