TransAlta (TSE:TA) Stock Price Expected to Rise, National Bankshares Analyst Says

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by equities research analysts at National Bankshares from C$16.00 to C$17.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 1.55% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. ATB Capital raised their target price on shares of TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday. CIBC raised their price objective on shares of TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Scotiabank raised TransAlta from a “hold” rating to a “strong-buy” rating and upped their target price for the company from C$16.00 to C$20.00 in a research report on Friday, July 18th. Royal Bank Of Canada lowered their target price 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. Finally, Jefferies Financial Group upgraded TransAlta from a “hold” rating to a “buy” rating and boosted their price target for the company from C$12.00 to C$20.00 in a research note on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$19.22.

TransAlta Trading Up 0.7%

Shares of TransAlta stock opened at C$16.74 on Tuesday. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The business has a fifty day simple moving average of C$15.38 and a two-hundred day simple moving average of C$14.40. TransAlta has a 1 year low of C$10.95 and a 1 year high of C$21.22. The company has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 23.86, 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.