TransAlta (TSE:TA) Given New C$26.00 Price Target at TD Securities

TransAlta (TSE:TA) (NYSE:TAC) had its target price decreased by equities research analysts at TD Securities from C$27.00 to C$26.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 19.43% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Desjardins raised their target price on TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. CIBC raised their target price on shares of TransAlta from C$20.00 to C$26.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Scotiabank boosted their target price on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. ATB Capital raised their price target on TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their target price on shares of TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, TransAlta presently has an average rating of “Buy” and an average target price of C$22.89.

TransAlta Price Performance

TransAlta stock traded up C$0.64 during trading on Friday, reaching C$21.77. The company had a trading volume of 3,751,078 shares, compared to its average volume of 1,774,481. The firm’s 50-day simple moving average is C$20.54 and its 200 day simple moving average is C$16.77. TransAlta has a 1-year low of C$11.16 and a 1-year high of C$25.03. The firm has a market capitalization of C$6.45 billion, a PE ratio of -40.31, a price-to-earnings-growth ratio of -0.07 and a beta of 0.74. 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.