TransAlta (TSE:TA) Upgraded at Jefferies Financial Group

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

TA has been the subject of a number of other research reports. Royal Bank of Canada dropped their price objective 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. Desjardins dropped their price objective on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. CIBC upped their price objective on shares of TransAlta from C$18.50 to C$19.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. ATB Capital decreased their target price on shares of TransAlta from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Scotiabank decreased their target price 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, TransAlta currently has a consensus rating of "Moderate Buy" and an average price target of C$18.22.

TransAlta Stock Down 2.8%

Shares of TransAlta stock traded down C$0.43 on Thursday, reaching C$15.08. The stock had a trading volume of 3,203,246 shares, compared to its average volume of 1,998,985. The company has a 50 day moving average price of C$12.78 and a 200 day moving average price of C$15.25. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. TransAlta has a 1 year low of C$9.30 and a 1 year high of C$21.22. The stock has a market capitalization of C$4.53 billion, a P/E ratio of 21.49, a P/E/G ratio of -0.07 and a beta of 0.93.

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.