TransAlta (TSE:TA) Given New C$27.00 Price Target at TD Securities

TransAlta (TSE:TA) (NYSE:TAC) had its target price boosted by TD Securities from C$20.00 to C$27.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. National Bankshares raised 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. CIBC raised their price target on TransAlta from C$20.00 to C$26.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Desjardins raised their price target on TransAlta from C$16.50 to C$21.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. ATB Capital raised 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. Finally, Jefferies Financial Group raised their price target on TransAlta from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$23.00.

TransAlta Trading Up 0.3%

Shares of TSE:TA opened at C$23.88 on Tuesday. The company has a market cap of C$7.08 billion, a P/E ratio of -44.22, a P/E/G ratio of -0.07 and a beta of 0.73. The stock’s 50-day moving average is C$19.56 and its 200-day moving average is C$16.23. TransAlta has a 52-week low of C$11.16 and a 52-week high of C$24.55. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74.

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.