UPDATE: TD Securities Starts TransAlta (TAC) at Hold

(updated to add analyst comment)

TD Securities initiates coverage on TransAlta (NYSE: TAC) with a Hold rating.

Analyst John Mould comes out on the sidelines noting a NT focus which remains on deleveraging. The analyst comments "We have updated our forecasts to reflect the recent electricity pricing environment in Alberta and the company's disclosed hedging positions. TransAlta Corp. has a discounted valuation, and Alberta's power market fundamentals have improved, in our opinion. Notwithstanding this view, we remain comfortable with a HOLD rating, given the ongoing transition in the company's most market,
and a relatively limited set of transparent growth opportunities."

For an analyst ratings summary and ratings history on TransAlta click here. For more ratings news on TransAlta click here.

Shares of TransAlta closed at $5.20 yesterday.

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