TransAlta (TSE:TA) Upgraded at Scotiabank

TransAlta (TSE:TA - Get Free Report) NYSE: TAC was upgraded by stock analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a report released on Friday, Marketbeat.com reports. The firm presently has a C$20.00 price objective on the stock, up from their prior price objective of C$16.00. Scotiabank's price objective would indicate a potential upside of 17.99% from the company's previous close.

Several other research analysts have also weighed in on the company. Jefferies Financial Group raised TransAlta from a "hold" rating to a "buy" rating and upped their price target for the company from C$12.00 to C$20.00 in a research report on Thursday, June 12th. CIBC upped their price target on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. National Bankshares dropped their price target on 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. Desjardins dropped their price target on TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, ATB Capital dropped their price target on TransAlta from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$18.78.

TransAlta Trading Up 1.9%

Shares of TransAlta stock traded up C$0.32 on Friday, reaching C$16.95. 2,417,662 shares of the company were exchanged, compared to its average volume of 1,895,611. The stock has a fifty day moving average price of C$14.31 and a 200-day moving average price of C$14.61. The firm has a market capitalization of C$5.09 billion, a price-to-earnings ratio of 24.16, 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. TransAlta has a fifty-two week low of C$9.35 and a fifty-two week high of C$21.22.

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.