The stock of TransAlta Corporation (TSE:TA) hit a new 52-week high and has $7.52 target or 5.00% above today’s $7.16 share price. The 6 months bullish chart indicates low risk for the $2.22 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $7.52 price target is reached, the company will be worth $111.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.48 million shares traded hands or 375.11% up from the average. TransAlta Corporation (TSE:TA) has declined 5.30% since April 21, 2016 and is downtrending. It has underperformed by 10.70% the S&P500.
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 $6.89 average target is -3.77% below today’s ($7.16) stock price. TransAlta Corporation has been the topic of 23 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Scotia Capital maintained TransAlta Corporation (TSE:TA) rating on Thursday, July 23. Scotia Capital has “Sector Outperform” rating and $14 price target. The rating was upgraded by TD Securities on Wednesday, August 26 to “Hold”. The firm has “Outperform” rating by National Bank Canada given on Monday, September 28. As per Thursday, January 14, the company rating was maintained by National Bank Canada. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, April 29 report. The stock of TransAlta Corporation (TSE:TA) has “Sector Perform” rating given on Friday, January 15 by RBC Capital Markets. IBC upgraded the stock to “Underperform” rating in Tuesday, August 25 report. The stock of TransAlta Corporation (TSE:TA) earned “Market Perform” rating by BMO Capital Markets on Monday, August 24. Scotia Capital maintained the shares of TA in a report on Thursday, August 11 with “Underperform” rating.
More news for TransAlta Corporation (TSE:TA) were recently published by: Fool.ca, which released: “TransAlta Corporation: Time to Buy This Stock?” on November 24, 2016. Business.Financialpost.com‘s article titled: “TransAlta Corp’s path forward ‘is uncertain at best'” and published on July 19, 2016 is yet another important article.
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 $2.22 billion. The Firm is engaged in the production and sale of electric energy. It has a 1972.45 P/E ratio. TransAlta is organized into seven divisions: Canadian Coal, U.S.
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