TransAlta (TSE:TA) Stock Price Expected to Rise, National Bankshares Analyst Says

Key Points

• National Bankshares raised TransAlta's price target from C$16.00 to C$17.00, maintaining an "outperform" rating on the stock, indicating a potential upside of 2.04% based on its previous close.
• Multiple brokerage firms have increased their price targets for TransAlta, with ATB Capital, Jefferies Financial Group, and Scotiabank all setting targets of C$20.00.
• Despite positive analyst ratings, TransAlta's stock experienced a decline of 2.5%, trading at C$16.66 during midday trading on Tuesday.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its target price lifted by stock analysts at National Bankshares from C$16.00 to C$17.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' price target suggests a potential upside of 3.66% from the stock's current price.

A number of other brokerages have also recently commented on TA. CIBC upped their target price on shares of TransAlta from C$18.50 to C$20.00 in a report on Thursday, July 10th. TD Securities upped their price target on TransAlta from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research note on Tuesday. Scotiabank raised TransAlta from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from C$16.00 to C$20.00 in a report on Friday, July 18th. ATB Capital raised their price target on TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Jefferies Financial Group upgraded TransAlta from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$12.00 to C$20.00 in a research report on Thursday, June 12th. One equities research 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. According to data from MarketBeat, TransAlta has a consensus rating of "Buy" and an average price target of C$19.22.

TransAlta Stock Down 2.0%

Shares of TransAlta stock traded down C$0.34 during trading hours on Tuesday, hitting C$16.40. The company had a trading volume of 464,639 shares, compared to its average volume of 1,866,458. TransAlta has a twelve month low of C$10.95 and a twelve month high of C$21.22. The company has a market cap of C$4.93 billion, a P/E ratio of 23.38, 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. The company's 50-day moving average is C$15.38 and its two-hundred day moving average is 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.