TransAlta (TSE:TA) Stock Rating Upgraded by Scotiabank

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by stock analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors 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 target price indicates a potential upside of 17.99% from the stock’s current price.

A number of other equities research analysts have also issued reports on TA. Jefferies Financial Group raised shares of TransAlta from a “hold” rating to a “buy” rating and lifted their target price for the company from C$12.00 to C$20.00 in a research note on Thursday, June 12th. ATB Capital decreased their target price on shares of TransAlta from C$19.00 to C$18.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. CIBC lifted their target price on shares of TransAlta from C$18.50 to C$20.00 in a research note on Thursday, July 10th. Desjardins cut their price target on shares of 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, Royal Bank Of Canada cut their price target on shares of TransAlta from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$18.78.

TransAlta Trading Up 1.9%

Shares of TSE:TA opened at C$16.95 on Friday. The stock has a market capitalization of C$5.09 billion, a price-to-earnings ratio of 24.16, a PEG ratio of -0.07 and a beta of 0.93. TransAlta has a 1-year low of C$9.35 and a 1-year high of C$21.22. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. The company has a 50 day moving average price of C$14.31 and a 200 day moving average price of C$14.61.

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.