TransAlta (TAC) Gets a Hold Rating from Credit Suisse

By Ryan Adsit

Credit Suisse analyst Andrew Kuske maintained a Hold rating on TransAlta (TACResearch Report) on September 17 and set a price target of $10. The company’s shares closed last Monday at $6.43.

Kuske has an average return of 4.4% when recommending TransAlta.

According to TipRanks.com, Kuske is ranked #1415 out of 5554 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for TransAlta with a $7.82 average price target, a 21.2% upside from current levels. In a report issued on September 17, CIBC also reiterated a Hold rating on the stock with a $10 price target.

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Based on TransAlta’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.47 million. In comparison, last year the company had a GAAP net loss of $73.58 million.

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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.