Jefferies Financial Group Upgrades TransAlta (TSE:TA) to "Buy"

Jefferies Financial Group upgraded shares of TransAlta (TSE:TA - Free Report) NYSE: TAC from a hold rating to a buy rating in a research report released on Thursday,BayStreet.CA reports. They currently have C$20.00 price objective on the stock, up from their prior price objective of C$12.00.

TA has been the topic of several other research reports. Scotiabank reduced their price target on shares of TransAlta from C$17.00 to C$16.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Cibc World Mkts raised shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Desjardins decreased their price target on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. 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. Finally, ATB Capital reduced their price objective on TransAlta from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TransAlta currently has a consensus rating of "Moderate Buy" and an average price target of C$18.22.

TransAlta Stock Performance

TransAlta stock traded down C$0.46 during mid-day trading on Thursday, reaching C$15.05. The company had a trading volume of 231,552 shares, compared to its average volume of 1,971,218. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The firm has a market cap of C$4.52 billion, a price-to-earnings ratio of 21.45, a PEG ratio of -0.07 and a beta of 0.93. The company has a 50 day moving average of C$12.71 and a 200-day moving average of C$15.25. TransAlta has a 52 week low of C$9.30 and a 52 week high of C$21.22.

TransAlta Company Profile

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.