TD Securities Lowers TransAlta (TSE:TA) Price Target to C$26.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price decreased by equities research analysts at TD Securities from C$27.00 to C$26.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective suggests a potential upside of 19.43% from the company’s previous close.

TA has been the topic of a number of other reports. Jefferies Financial Group boosted their price target on shares of TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. National Bankshares lifted their price objective 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. Scotiabank increased 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. CIBC upped their price target on shares of TransAlta from C$20.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Desjardins raised their price objective on shares of TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$22.89.

TransAlta Stock Performance

TransAlta stock traded up C$0.64 during trading hours on Friday, hitting C$21.77. 3,751,078 shares of the stock traded hands, compared to its average volume of 1,774,481. The firm’s 50 day moving average price is C$20.54 and its 200-day moving average price is C$16.77. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. 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 1 year low of C$11.16 and a 1 year 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.