TransAlta (TAC) Gets a Buy from RBC Capital

In a report released on April 25, Maurice Choy from RBC Capital maintained a Buy rating on TransAlta (TAC – Research Report), with a price target of C$14.00. The company’s shares closed yesterday at $6.63.

According to TipRanks, Choy is a 3-star analyst with an average return of 4.7% and a 39.39% success rate. Choy covers the Utilities sector, focusing on stocks such as Fortis, TransAlta, and Emera.

TransAlta has an analyst consensus of Strong Buy, with a price target consensus of $10.66, which is a 60.78% upside from current levels. In a report released on April 19, CIBC also maintained a Buy rating on the stock with a C$16.00 price target.

TAC market cap is currently $2.01B and has a P/E ratio of 3.77.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TAC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TransAlta (TAC) Company Description:

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. The Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, and Hydro segments are responsible for constructing, operating and maintaining its electrical generation. The Energy Marketing segment engages in marketing its production through short-term and long-term contracts. The Corporate segment deals with its central financial, legal, administrative, and investing functions. TransAlta was founded in 1909 and is headquartered in Calgary, Canada.