TransAlta (TSE:TA) Price Target Raised to C$27.00 at Jefferies Financial Group

TransAlta (TSE:TA) (NYSE:TAC) had its price target increased by Jefferies Financial Group from C$20.00 to C$27.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the company. Scotiabank raised TransAlta from a “hold” rating to a “strong-buy” rating and upped their price target for the company from C$16.00 to C$20.00 in a research report on Friday, July 18th. ATB Capital upped their price target on TransAlta from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. TD Securities upped their price target on TransAlta from C$19.00 to C$20.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. CIBC upped their price target on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Finally, National Bankshares upped their price target on TransAlta from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$20.00.

TransAlta Stock Up 7.7%

Shares of TSE TA opened at C$23.49 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. TransAlta has a 52 week low of C$11.16 and a 52 week high of C$23.75. The firm’s fifty day moving average is C$18.20 and its 200 day moving average is C$15.42. The company has a market cap of C$6.96 billion, a price-to-earnings ratio of -43.50, a PEG ratio of -0.07 and a beta of 0.73.

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.