TRSWF - TransAlta Renewables: Magnificently Overvalued 40%+ Downside
- Most recent share price hike is fundamentally unjustified, implying a 40%+ overvaluation under the mean-reversion-principle and compared to the valuation of peer company Northland Power.
- Lots of other new energy plays are better diversified in terms of technology and geography.
- While it positions itself as an income play, dividends are paid at the expense of (future) shareholders - but actual cash generation and sponsorship of parent company are strong.
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TransAlta Renewables: Magnificently Overvalued, 40%+ Downside