November 23, 2015 / 5:13 PM / in 2 years

BUZZ-TransAlta Corp: RBC Capital raises to "sector perform"

** Canadian electric power producer’s shares up 12.1 pct at C$6.11

** RBC Capital Markets raises to “sector perform” from “underperform”, PT to C$7 from C$6

** New Alberta climate change framework provides enough visibility to believe that upside potential is more symmetric with the downside risk, RBC analysts write

** Company said on Sunday it is "carefully reviewing" Alberta's climate change framework (bit.ly/1NLvcIW)

** Framework to phase out coal-fired power generation in the province by 2030; the 15-year timeline “confirms that Alberta does not intend to strand capital,” company said

** 3 of 11 brokerages rate stock “buy”, 7 “hold” and 1 “sell”; Median PT is C$8.50

** Up to Friday’s close, stock had fallen 48.2 pct this year

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