Newalta Co. (NAL) Cut to Sector Perform at National Bank Financial
National Bank Financial lowered shares of Newalta Co. (TSE:NAL) from an outperform rating to a sector perform rating in a research note published on Thursday morning. National Bank Financial currently has C$2.00 price objective on the stock.
NAL has been the topic of several other research reports. Canaccord Genuity boosted their price objective on shares of Newalta to C$3.50 and gave the stock a speculative buy rating in a report on Saturday, August 6th. GMP Securities cut shares of Newalta from a hold rating to a reduce rating in a research note on Friday, August 5th. TD Securities reissued a hold rating and issued a C$2.50 target price on shares of Newalta in a research note on Thursday, August 4th. Finally, Scotiabank reissued an outperform rating and issued a C$5.00 target price on shares of Newalta in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of C$2.70.
Newalta (TSE:NAL) opened at 2.04 on Thursday. The firm’s market cap is $179.82 million. The company’s 50 day moving average is $2.31 and its 200-day moving average is $2.23. Newalta has a 1-year low of $1.45 and a 1-year high of $5.57.
Newalta Corporation is a Canada-based provider of engineered environmental solutions to the oil and gas industry. The Company’s segments include Heavy Oil and Oilfield. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.
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