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

TransAlta (TSE:TA) (NYSE:TAC) had its price target lowered by TD Securities from C$27.00 to C$26.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on TA. Scotiabank upped their price target on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. ATB Capital boosted 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. National Bankshares upped their target price on TransAlta from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group lifted their price target on shares of TransAlta from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, CIBC boosted their price objective on shares of TransAlta from C$20.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$22.89.

TransAlta Stock Up 3.0%

Shares of TA stock traded up C$0.64 on Friday, hitting C$21.77. The company’s stock had a trading volume of 3,751,078 shares, compared to its average volume of 1,774,481. The stock has a market capitalization of C$6.45 billion, a price-to-earnings ratio of -40.31, a P/E/G ratio of -0.07 and a beta of 0.74. TransAlta has a fifty-two week low of C$11.16 and a fifty-two week high of C$25.03. The firm’s fifty day moving average price is C$20.64 and its 200-day moving average price is C$16.84. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62.

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.