CSFB Raises TransAlta (TA) Price Target to C$8.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by CSFB from C$7.00 to C$8.00 in a research note published on Thursday. The brokerage currently has an underperform rating on the stock.

Several other research firms have also recently issued reports on TA. National Bank Financial boosted their target price on TransAlta from C$9.00 to C$9.50 and gave the stock a sector perform rating in a research report on Thursday. Scotiabank set a C$8.00 target price on TransAlta and gave the stock a sector perform rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada boosted their target price on TransAlta from C$8.00 to C$9.00 and gave the stock a sector perform rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of Hold and a consensus target price of C$8.57.

Shares of TransAlta (TSE TA) opened at C$7.82 on Thursday. TransAlta has a one year low of C$6.88 and a one year high of C$8.50.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, November 30th. TransAlta’s payout ratio is 266.67%.

In other TransAlta news, insider David Fuller bought 9,832 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were bought at an average price of C$47.98 per share, for a total transaction of C$471,739.36.

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About TransAlta

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

Analyst Recommendations for TransAlta (TSE:TA)

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