Are You Looking for a Top Momentum Pick? Why TransAlta (TAC) is a Great Choice

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Company Overview - TransAlta (TAC) currently holds a Momentum Style Score of B, indicating a favorable momentum characteristic [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Group 2: Performance Metrics - Over the past week, TAC shares have increased by 8.33%, significantly outperforming the Zacks Utility - Electric Power industry, which rose by only 0.22% [5] - In a longer timeframe, TAC's shares have appreciated by 14.57% over the past month, compared to the industry's 2.42% [5] - Over the last quarter, TAC shares have surged by 35.58%, and over the past year, they have gained 67.17%, while the S&P 500 has only increased by 16.04% and 19.71%, respectively [6] Group 3: Trading Volume - TAC's average 20-day trading volume is 985,375 shares, which serves as a bullish indicator when combined with rising stock prices [7] Group 4: Earnings Outlook - In the past two months, one earnings estimate for TAC has increased, while none have decreased, raising the consensus estimate from $0.35 to $0.39 [9] - For the next fiscal year, one estimate has also moved upwards with no downward revisions during the same period [9] Group 5: Conclusion - Considering all the discussed elements, TAC is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]