Could TransAlta Corporation See a Reversal After This Very Strong Session?

 Could TransAlta Corporation See a Reversal After This Very Strong Session?

The stock of TransAlta Corporation (TSE:TA) is a huge mover today! About 246,836 shares traded hands. TransAlta Corporation (TSE:TA) has declined 6.87% since April 1, 2016 and is downtrending. It has underperformed by 8.82% the S&P500.
The move comes after 6 months positive chart setup for the $1.66 billion company. It was reported on Nov, 7 by Barchart.com. We have $8.07 PT which if reached, will make TSE:TA worth $630.80M more.

TransAlta Corporation (TSE:TA) Ratings Coverage

Out of 3 analysts covering TransAlta Corporation (TSE:TA), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. $14 is the highest target while $5 is the lowest. The $6.68 average target is 14.19% above today’s ($5.85) stock price. TransAlta Corporation has been the topic of 22 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, September 28 by National Bank Canada. Scotia Capital maintained TransAlta Corporation (TSE:TA) rating on Thursday, July 23. Scotia Capital has “Sector Outperform” rating and $14 price target. The company was maintained on Friday, April 29 by RBC Capital Markets. On Wednesday, August 26 the stock rating was upgraded by TD Securities to “Hold”. The rating was upgraded by BMO Capital Markets to “Market Perform” on Monday, August 24. National Bank Canada maintained it with “Sector Perform” rating and $8.50 target price in Thursday, January 14 report. IBC upgraded TransAlta Corporation (TSE:TA) on Tuesday, August 25 to “Underperform” rating. On Thursday, August 11 the stock rating was maintained by Scotia Capital with “Underperform”. On Friday, January 15 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.

More notable recent TransAlta Corporation (TSE:TA) news were published by: Moodys.com which released: “Moody’s reviews TransAlta’s ratings for downgrade” on October 01, 2015, also Moodys.com with their article: “Moody’s Downgrades TransAlta to Ba1; Outlook Stable” published on December 17, 2015, Business.Financialpost.com published: “TransAlta Corp’s path forward ‘is uncertain at best'” on July 19, 2016. More interesting news about TransAlta Corporation (TSE:TA) were released by: Business.Financialpost.com and their article: “TransAlta Corp cuts dividend by more than a third to save money for shift away …” published on January 15, 2016 as well as Fool.ca‘s news article titled: “Is Warren Buffett Thinking of Buying TransAlta Corporation?” with publication date: January 28, 2016.

TransAlta Corporation is a non-regulated electricity generation and energy marketing firm with an aggregate net ownership interest of approximately 8,730 megawatts of generating capacity. The company has a market cap of $1.66 billion. The Firm is engaged in the production and sale of electric energy. It has a 9.86 P/E ratio. TransAlta is organized into seven divisions: Canadian Coal, U.S.

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