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CIBC Remains a Buy on TransAlta (TAC)

Tipranks - Tipranks - Fri Mar 20, 10:30AM CDT

CIBC analyst Mark Jarvi maintained a Buy rating on TransAlta today and set a price target of C$25.00.

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According to TipRanks, Jarvi is a 5-star analyst with an average return of 12.3% and a 66.94% success rate. Jarvi covers the Utilities sector, focusing on stocks such as TransAlta, Brookfield Renewable Partners, and ATCO Ltd Cl I NV.

TransAlta has an analyst consensus of Strong Buy, with a price target consensus of C$23.07.

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Based on TransAlta’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$599 million and a GAAP net loss of C$36 million. In comparison, last year the company earned a revenue of C$678 million and had a GAAP net loss of C$39 million

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TAC in relation to earlier this year.

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