National Bank Sticks to Its Hold Rating for TransAlta (TA)

By Ryan Adsit

TransAlta (TAResearch Report), the Utilities sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. Analyst Patrick Kenny from National Bank remains neutral on the stock and has a C$10 price target.

Kenny has an average return of 13.2% when recommending TransAlta.

According to TipRanks.com, Kenny is ranked #1094 out of 5234 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for TransAlta with a C$10 average price target, implying a 17.2% upside from current levels. In a report issued on August 11, CIBC also reiterated a Hold rating on the stock with a C$10 price target.

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The company has a one-year high of C$10.14 and a one-year low of C$5.44. Currently, TransAlta has an average volume of 632.1K.

TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate.

The company’s shares closed last Tuesday at C$8.45.