TransAlta (TSE:TA) Price Target Raised to C$20.00

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its price target boosted by equities research analysts at CIBC from C$18.50 to C$20.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC's target price suggests a potential upside of 27.96% from the company's current price.

A number of other research analysts have also weighed in on TA. Royal Bank Of Canada cut their price objective on TransAlta from C$23.00 to C$20.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. National Bankshares cut their price objective on TransAlta from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. 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 report on Thursday, June 12th. Desjardins cut their price objective on TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Finally, ATB Capital cut their price objective on TransAlta from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TransAlta currently has a consensus rating of "Moderate Buy" and an average price target of C$18.33.

TransAlta Stock Up 2.1%

TSE:TA traded up C$0.32 during mid-day trading on Thursday, hitting C$15.63. 1,856,403 shares of the company's stock traded hands, compared to its average volume of 1,889,337. The company has a fifty day moving average of C$13.88 and a 200 day moving average of C$14.75. TransAlta has a twelve month low of C$9.35 and a twelve month high of C$21.22. The company has a market capitalization of C$4.69 billion, a P/E ratio of 22.28, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74.

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.