TransAlta Co. (TSE:TA) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• TransAlta Co. has received a consensus recommendation of "Buy" from nine research firms, with additional ratings including one hold, six buy, and two strong buy.
• The average 12-month price target for TransAlta's stock is set at C$19.22, with TD Securities and CIBC recently raising their price targets to C$20.00.
• Currently trading at C$16.93, TransAlta operates a diversified fleet of power generation assets across Canada, the U.S., and Australia, focusing on various renewable and traditional energy sources.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC has been given an average recommendation of "Buy" by the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$19.22.

TA has been the topic of a number of recent analyst reports. TD Securities lifted their price target on shares of TransAlta from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada reduced their price target on shares of TransAlta from C$23.00 to C$20.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group raised shares of TransAlta from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$12.00 to C$20.00 in a research report on Thursday, June 12th. Desjardins reduced 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 report on Tuesday, May 6th. Finally, CIBC lifted their price target on shares of TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th.

TransAlta Trading Up 0.5%

Shares of TSE TA opened at C$16.93 on Wednesday. The company's fifty day moving average is C$16.10 and its 200-day moving average is C$14.35. The stock has a market cap of C$5.08 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$21.22. 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 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.

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