TransAlta (TSE:TA) Given New C$20.00 Price Target at ATB Capital

Key Points

• ATB Capital has raised its target price for TransAlta (TSE:TA) from C$18.00 to C$20.00, which indicates a potential upside of 20.05% based on the company’s previous close.
• The stock currently holds a consensus rating of "Buy" from analysts, with a range of target prices reflecting moderate to strong optimism.
• TransAlta's stock price decreased by 2.5% to C$16.66 during mid-day trading, while the company has a market capitalization of C$5 billion.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its target price raised by stock analysts at ATB Capital from C$18.00 to C$20.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Capital's price target would indicate a potential upside of 21.95% from the stock's previous close.

Several other analysts have also weighed in on TA. CIBC raised their price objective on shares of TransAlta from C$18.50 to C$20.00 in a report on Thursday, July 10th. TD Securities lifted their price target on TransAlta from C$17.00 to C$19.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Scotiabank upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from C$16.00 to C$20.00 in a research report on Friday, July 18th. Desjardins reduced their target price on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered their price target on shares of TransAlta from C$23.00 to C$20.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, TransAlta presently has an average rating of "Buy" and a consensus target price of C$19.22.

TransAlta Stock Performance

Shares of TransAlta stock traded down C$0.34 on Tuesday, reaching C$16.40. The stock had a trading volume of 464,639 shares, compared to its average volume of 1,866,458. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. The business's 50-day moving average price is C$15.38 and its two-hundred day moving average price is C$14.40. The stock has a market cap of C$4.93 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a fifty-two week low of C$10.95 and a fifty-two week high of C$21.22.

About TransAlta

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company's revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.