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

Key Points

• TransAlta Co. (TSE:TA) has received an average consensus recommendation of "Buy" from nine brokerage firms, with six firms assigning a buy recommendation and two indicating a strong buy.
• The average twelve-month target price set by analysts for TransAlta's stock is C$19.22, with several firms adjusting their price objectives to C$20.00.
• TransAlta operates a diverse range of power generation assets, including hydro, wind, and solar, primarily generating revenue from electricity and environmental attributes.

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

TA has been the topic of several analyst reports. CIBC increased their price objective on shares of TransAlta from C$18.50 to C$20.00 in a report on Thursday, July 10th. ATB Capital increased their price objective on shares of TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Scotiabank upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from C$16.00 to C$20.00 in a report on Friday, July 18th. Desjardins cut their price objective on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Finally, TD Securities increased their price objective 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.

TransAlta Price Performance

TA opened at C$16.93 on Wednesday. The company's 50 day simple moving average is C$16.10 and its 200-day simple moving average is C$14.35. TransAlta has a one year low of C$11.16 and a one year high of C$21.22. The stock has a market capitalization of C$5.08 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62.

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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