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

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its price target hoisted by equities researchers at CIBC from C$18.50 to C$20.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC's price target would indicate a potential upside of 31.67% from the company's previous close.

Several other brokerages have also commented on TA. Royal Bank Of Canada lowered their price objective on shares of TransAlta from C$23.00 to C$20.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Desjardins lowered their price objective on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Scotiabank lowered their price objective on shares of TransAlta from C$17.00 to C$16.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. ATB Capital lowered their price objective on shares of TransAlta from C$19.00 to C$18.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, National Bankshares lowered their price objective on shares of TransAlta from C$20.00 to C$16.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TransAlta presently has a consensus rating of "Moderate Buy" and an average price target of C$18.33.

TransAlta Trading Up 5.0%

Shares of TSE:TA traded up C$0.72 on Thursday, reaching C$15.19. 788,585 shares of the company traded hands, compared to its average volume of 1,881,606. The business's 50-day simple moving average is C$13.77 and its 200 day simple moving average is C$14.86. TransAlta has a 52 week low of C$9.35 and a 52 week high of C$21.22. The stock has a market capitalization of C$4.56 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.74, a quick ratio of 0.62 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.

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