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RBC Capital Sticks to Its Buy Rating for TransAlta (TAC)

Tipranks - Tipranks - Fri Jan 23, 8:16PM CST

RBC Capital analyst Maurice Choy maintained a Buy rating on TransAlta on January 21 and set a price target of C$24.00. The company’s shares closed yesterday at C$17.11.

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According to TipRanks, Choy is a 5-star analyst with an average return of 10.6% and a 69.11% success rate. Choy covers the Utilities sector, focusing on stocks such as Capital Power, Fortis, and Brookfield Infrastructure.

TransAlta has an analyst consensus of Strong Buy, with a price target consensus of C$23.08, implying a 34.88% upside from current levels. In a report released on January 21, Jefferies also maintained a Buy rating on the stock with a C$22.00 price target.

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Based on TransAlta’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$433 million and a GAAP net loss of C$99 million. In comparison, last year the company earned a revenue of C$582 million and had a net profit of C$69 million

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