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

Key Points

• TransAlta Co. has received a consensus rating of "Buy" from nine brokerages, with one hold, six buy, and two strong buy ratings.
• The average twelve-month price target for TransAlta's stock among analysts is C$20.00, with several firms increasing their price targets recently.
• Shares of TransAlta have traded at a twelve-month range, with a low of C$11.16 and a high of C$24.37, currently opening at C$23.92.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC has been assigned a consensus rating of "Buy" from the nine brokerages that are presently covering the firm, MarketBeat reports. One 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 twelve-month price target among brokers that have issued ratings on the stock in the last year is C$20.00.

Several equities analysts have weighed in on the stock. TD Securities boosted their target price on shares of TransAlta from C$19.00 to C$20.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank raised shares of TransAlta from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from C$16.00 to C$20.00 in a research report on Friday, July 18th. ATB Capital increased their price objective on TransAlta from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. National Bankshares raised their target price on TransAlta from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, CIBC upped their price target on TransAlta from C$18.50 to C$20.00 in a research note on Thursday, July 10th.

TransAlta Trading Up 1.8%

Shares of TA stock opened at C$23.92 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$24.37. The company's 50-day moving average price is C$18.34 and its 200-day moving average price is C$15.48. The stock has a market cap of C$7.09 billion, a price-to-earnings ratio of -44.30, a PEG ratio of -0.07 and a beta of 0.73.

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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