TD Securities Forecasts Strong Price Appreciation for TransAlta (TSE:TA) Stock

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 - Free Report) NYSE: TAC had its target price upped by TD Securities from C$17.00 to C$19.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. CIBC lifted their target price on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Royal Bank Of Canada decreased their price target on shares of TransAlta from C$23.00 to C$20.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Jefferies Financial Group upgraded shares of TransAlta from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$12.00 to C$20.00 in a research report on Thursday, June 12th. National Bankshares cut 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 report on Thursday, May 8th. Finally, Scotiabank raised shares of TransAlta from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from C$16.00 to C$20.00 in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$18.78.

TransAlta Price Performance

Shares of TA traded up C$0.41 during midday trading on Tuesday, hitting C$17.08. The company's stock had a trading volume of 1,966,835 shares, compared to its average volume of 1,875,597. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. TransAlta has a one year low of C$10.43 and a one year high of C$21.22. The stock has a market capitalization of C$5.13 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company's fifty day simple moving average is C$15.15 and its two-hundred day simple moving average is C$14.46.

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.