TD Securities Increases TransAlta (TSE:TA) Price Target to C$20.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price raised by TD Securities from C$19.00 to C$20.00 in a research note released on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

TA has been the subject of a number of other reports. ATB Capital boosted their price target on shares of TransAlta from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday. Scotiabank raised TransAlta from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from C$16.00 to C$20.00 in a report on Friday, July 18th. Royal Bank Of Canada dropped their price target on TransAlta from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. National Bankshares cut 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. Finally, CIBC increased their price objective on TransAlta from C$18.50 to C$20.00 in a report on Thursday, July 10th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, TransAlta has a consensus rating of “Buy” and a consensus price target of C$19.22.

TransAlta Stock Down 1.4%

Shares of TSE:TA opened at C$16.51 on Tuesday. The firm has a 50 day simple moving average of C$15.44 and a 200-day simple moving average of C$14.37. TransAlta has a twelve month low of C$10.95 and a twelve month high of C$21.22. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The company has a market capitalization of C$4.96 billion, a PE ratio of 23.53, a P/E/G 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.