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 price objective lifted by analysts at National Bankshares from C$16.00 to C$17.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' price objective indicates a potential upside of 2.22% from the stock's current price.

Several other research firms have also recently commented on TA. TD Securities increased their price objective on TransAlta from C$19.00 to C$20.00 and gave the company a "buy" rating in a research report on Tuesday. ATB Capital increased their price objective on TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research report on Tuesday. Desjardins dropped their price objective on 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. CIBC increased their price objective on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Finally, Jefferies Financial Group raised TransAlta from a "hold" rating to a "buy" rating and increased their price objective for the company from C$12.00 to C$20.00 in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$19.22.

TransAlta Stock Up 0.7%

Shares of TSE TA traded up C$0.12 during trading on Tuesday, reaching C$16.63. The company had a trading volume of 1,838,420 shares, compared to its average volume of 1,871,473. TransAlta has a 12-month low of C$10.95 and a 12-month high of C$21.22. The stock has a market cap of C$4.99 billion, a PE ratio of 23.70, a P/E/G ratio of -0.07 and a beta of 0.93. The business's 50-day moving average is C$15.51 and its 200 day moving average is C$14.30. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66.

About TransAlta

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.