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

TransAlta (TSE:TA) (NYSE:TAC) had its target price increased by CIBC from C$20.00 to C$26.00 in a report released on Monday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts also recently commented on TA. Jefferies Financial Group increased their target price on TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Scotiabank raised TransAlta from a “hold” rating to a “strong-buy” rating and increased their target price for the stock from C$16.00 to C$20.00 in a report on Friday, July 18th. TD Securities increased their target price on TransAlta from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. ATB Capital increased their target price 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, National Bankshares increased their target price on TransAlta from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$21.44.

TransAlta Trading Up 2.0%

TSE:TA opened at C$23.66 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The business’s 50 day moving average is C$18.76 and its two-hundred day moving average is C$15.73. TransAlta has a 52 week low of C$11.16 and a 52 week high of C$24.37. The company has a market cap of C$7.01 billion, a PE ratio of -43.81, a P/E/G 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.