TransAlta (TSE:TA) Price Target Raised to C$19.00 at TD Securities

Key Points

• TD Securities has raised the price target for TransAlta from C$17.00 to C$19.00, maintaining a "buy" rating, indicating a potential upside of 13.30% from its current price.
• Analyst ratings for TransAlta show a consensus of "buy" with an average target price of C$18.78, despite varying target adjustments from different brokerages.
• TransAlta's stock recently traded at C$16.77, with a market cap of C$5.04 billion, showcasing significant volatility with a one-year low of C$10.12 and a high of C$21.22.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its price target upped by analysts at TD Securities from C$17.00 to C$19.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price objective would indicate a potential upside of 13.30% from the company's current price.

A number of other research analysts have also commented on TA. Desjardins reduced their price target on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group raised TransAlta from a "hold" rating to a "buy" rating and raised their price target for the company from C$12.00 to C$20.00 in a report on Thursday, June 12th. Royal Bank Of Canada cut their price objective on TransAlta from C$23.00 to C$20.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. National Bankshares lowered their target price on shares of TransAlta from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, CIBC lifted their target price on shares of TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. One equities research 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. According to MarketBeat.com, TransAlta presently has a consensus rating of "Buy" and an average target price of C$18.78.

TransAlta Price Performance

Shares of TransAlta stock traded up C$0.03 on Tuesday, reaching C$16.77. The stock had a trading volume of 580,534 shares, compared to its average volume of 1,872,763. The business's 50 day moving average is C$14.81 and its two-hundred day moving average is C$14.45. 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 1 year low of C$10.12 and a 1 year high of C$21.22. The company has a market cap of C$5.04 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

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.

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