March 26, 2019 / 11:44 AM / in 7 months

BUZZ-TransAlta Corp: TD Securities raises to "buy" on Brookfield investment

** TD Securities upgrades Canadian power company TransAlta Corp to “buy” from “hold” and raises PT to C$12 from C$8.50 following Brookfield investment agreement

** TransAlta on Monday announced Brookfield Asset Management will invest C$750 mln ($560 mln) in the company as it aims to become a clean energy producer by 2025

** Brokerage terms the investment reasonable

** Says the transaction with Brookfield should improve co’s financial flexibility

** Brokerage National Bank of Canada raises PT to C$11 from C$9.50 and BMO raises PT to C$10 from C$9; Co’s median PT is C$10

** 3 out of 10 analysts rate the stock “buy” and 7 “hold” - Refinitiv data

** Stock is up ~70 pct YTD

$1 = C$1.34 Reporting By: Aniruddha Chakrabarty

0 : 0
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