TransAlta (TSE:TA) Price Target Raised to C$17.00 at National Bankshares

TransAlta (TSE:TA) (NYSE:TAC) had its price target increased by National Bankshares from C$16.00 to C$17.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on TA. Royal Bank Of Canada reduced their price target on shares of TransAlta from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Desjardins reduced their target price on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating on the stock in a report on Tuesday, May 6th. Scotiabank raised shares of TransAlta from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from C$16.00 to C$20.00 in a research report on Friday, July 18th. CIBC raised their price objective on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Finally, Jefferies Financial Group upgraded TransAlta from a “hold” rating to a “buy” rating and boosted their price objective for the stock 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, TransAlta currently has an average rating of “Buy” and an average target price of C$19.22.

TransAlta Stock Performance

TSE TA opened at C$16.51 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. TransAlta has a 1-year low of C$10.95 and a 1-year high of C$21.22. The firm has a market capitalization of C$4.96 billion, a P/E ratio of 23.53, a P/E/G ratio of -0.07 and a beta of 0.93. The business’s 50-day simple moving average is C$15.44 and its 200-day simple moving average is C$14.37.

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.