TransAlta (TSE:TA) Given New C$24.00 Price Target at Royal Bank Of Canada

TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by investment analysts at Royal Bank Of Canada from C$20.00 to C$24.00 in a research note issued on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price target points to a potential upside of 7.77% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Desjardins raised their target price on TransAlta from C$16.50 to C$21.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. National Bankshares boosted their target price on shares of 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 shares of TransAlta from C$20.00 to C$26.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Jefferies Financial Group increased 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. Finally, Scotiabank upped their price target on shares of TransAlta from C$23.00 to C$27.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$23.33.

TransAlta Stock Performance

TA traded up C$0.50 during trading hours on Monday, reaching C$22.27. The company’s stock had a trading volume of 916,987 shares, compared to its average volume of 1,770,212. The firm has a market cap of C$6.60 billion, a PE ratio of -41.24, a price-to-earnings-growth ratio of -0.07 and a beta of 0.74. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. The company’s 50-day moving average is C$20.64 and its 200-day moving average is C$16.91. TransAlta has a 52 week low of C$11.16 and a 52 week high of C$25.03.

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.