TransAlta (TSE:TA) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a hold rating to a buy rating in a report published on Thursday morning,BayStreet.CA reports. They currently have C$20.00 target price on the stock, up from their prior target price of C$12.00.

A number of other research firms have also recently commented on TA. National Bankshares decreased their target price on shares of 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 lowered their target price on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. CIBC upped their target price on shares of TransAlta from C$18.50 to C$19.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Cibc World Mkts raised TransAlta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their target price on shares of TransAlta from C$23.00 to C$20.00 and set an “outperform” rating for the company in a research note 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$18.22.

TransAlta Stock Up 8.5%

Shares of TSE TA opened at C$15.51 on Thursday. The stock has a market cap of C$4.66 billion, a PE ratio of 22.11, a P/E/G 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 12-month low of C$9.30 and a 12-month high of C$21.22. The company has a 50-day moving average of C$12.71 and a 200 day moving average of C$15.25.

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.