Scotiabank Cuts Newalta Co. (NAL) Price Target to C$3.50
Newalta Co. (TSE:NAL) had its price objective trimmed by Scotiabank from C$4.00 to C$3.50 in a research report report published on Friday, StockTargetPrices.com reports. The brokerage currently has an outperform rating on the stock.
Several other research firms have also recently commented on NAL. 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. GMP Securities cut Newalta from a hold rating to a reduce rating in a research note on Friday, August 5th. Canaccord Genuity lifted their price objective on Newalta to C$3.50 and gave the stock a speculative buy rating in a research note on Saturday, August 6th. Finally, National Bank Financial cut Newalta from an outperform rating to a sector perform rating and set a C$2.00 price objective for the company. in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Newalta currently has an average rating of Hold and a consensus target price of C$2.70.
Shares of Newalta (TSE:NAL) opened at 2.05 on Friday. The stock’s 50 day moving average price is $2.30 and its 200 day moving average price is $2.23. Newalta has a one year low of $1.45 and a one year high of $5.57. The stock’s market capitalization is $180.70 million.
Newalta Company Profile
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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