CIBC Upgrades TransAlta Renewables (TSE:RNW) to “Neutral”

TransAlta Renewables (TSE:RNW) was upgraded by CIBC from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, BayStreet.CA reports.

A number of other analysts have also recently issued reports on RNW. Canaccord Genuity upped their target price on TransAlta Renewables from C$13.00 to C$13.50 in a research report on Tuesday, May 14th. National Bank Financial upped their target price on TransAlta Renewables from C$13.00 to C$13.25 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Desjardins reissued an “average” rating and issued a C$13.00 target price on shares of TransAlta Renewables in a research report on Wednesday, April 24th. Finally, Raymond James reissued a “market perform” rating and issued a C$14.50 target price on shares of TransAlta Renewables in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of C$13.41.

Shares of TSE RNW traded up C$0.01 during trading hours on Thursday, reaching C$13.08. The stock had a trading volume of 186,749 shares, compared to its average volume of 294,928. The firm has a market cap of $3.45 billion and a price-to-earnings ratio of 16.25. The company has a current ratio of 2.10, a quick ratio of 0.90 and a debt-to-equity ratio of 41.50. TransAlta Renewables has a fifty-two week low of C$9.76 and a fifty-two week high of C$14.34. The firm has a 50-day moving average of C$13.67 and a 200-day moving average of C$13.40.

TransAlta Renewables Company Profile

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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Analyst Recommendations for TransAlta Renewables (TSE:RNW)

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