TransAlta (TSE:TA) Given New C$21.00 Price Target at Desjardins

Key Points

• Desjardins has raised its target price for TransAlta from C$16.50 to C$21.00, maintaining a "hold" rating amid a potential downside of 9.72% from current levels.
• Multiple analysts have recently increased their price objectives for TransAlta, with Jefferies setting a new target of C$27.00 and maintaining a "buy" rating.
• The stock has a current price of C$23.26, with a 52-week range between C$11.16 and C$24.37, highlighting significant price fluctuations over the past year.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its target price increased by research analysts at Desjardins from C$16.50 to C$21.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' target price points to a potential downside of 9.72% from the stock's current price.

TA has been the subject of several other reports. Jefferies Financial Group increased their price objective on TransAlta from C$20.00 to C$27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. 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. CIBC increased their price objective on TransAlta from C$20.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Monday. National Bankshares increased their price objective on TransAlta from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Scotiabank increased their price objective on TransAlta from C$23.00 to C$27.00 and gave the stock an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$22.22.

TransAlta Trading Down 0.6%

TransAlta stock traded down C$0.15 during trading on Wednesday, reaching C$23.26. 1,474,317 shares of the company were exchanged, compared to its average volume of 1,759,585. The company has a market capitalization of C$6.90 billion, a P/E ratio of -43.07, a PEG ratio of -0.07 and a beta of 0.73. TransAlta has a 52-week low of C$11.16 and a 52-week high of C$24.37. 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 stock's 50 day simple moving average is C$18.89 and its two-hundred day simple moving average is C$15.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.