TransAlta (TSE:TA) Price Target Raised to C$20.00

Key Points

• TD Securities raised the price target for TransAlta (TSE:TA) from C$19.00 to C$20.00, indicating a potential upside of 20.05% from the stock's previous close and maintaining a "buy" rating.
• Contrarily, other firms like Desjardins and National Bank have cut their target prices on TransAlta, reflecting a mix of ratings, with one hold, six buy, and two strong buy ratings currently.
• As of midday trading, TransAlta shares were down 2.5% at C$16.66, with the stock operating within a 52-week range of C$10.43 to C$21.22.

TransAlta (TSE:TA - Free Report) NYSE: TAC had its price target hoisted by TD Securities from C$19.00 to C$20.00 in a research note published on Tuesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. ATB Capital upped their target price on shares of TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday. Royal Bank Of Canada cut their price objective on TransAlta from C$23.00 to C$20.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. CIBC increased their price target on TransAlta from C$18.50 to C$20.00 in a research note on Thursday, July 10th. National Bankshares decreased their target price on TransAlta from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, Jefferies Financial Group raised shares of TransAlta from a "hold" rating to a "buy" rating and raised their target price for the company from C$12.00 to C$20.00 in a research note on Thursday, June 12th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$19.22.

TransAlta Stock Performance

Shares of TA traded down C$0.34 during mid-day trading on Tuesday, hitting C$16.40. 464,639 shares of the company traded hands, 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. TransAlta has a 1 year low of C$10.95 and a 1 year high of C$21.22. The stock has a market cap of C$4.93 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of -0.07 and a beta of 0.93. The stock has a 50-day moving average price of C$15.38 and a two-hundred day moving average price of C$14.40.

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.