CIBC Increases TransAlta (TSE:TA) Price Target to C$26.00

by · The Markets Daily

TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) had its target price hoisted by investment analysts at CIBC from C$25.00 to C$26.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 46.89% from the company’s previous close.

A number of other brokerages have also weighed in on TA. National Bankshares increased their target price on shares of TransAlta from C$18.00 to C$22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 10th. ATB Capital boosted their target price on shares of TransAlta from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Natl Bk Canada cut TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Scotiabank increased their price objective on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Desjardins raised their target price on TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$25.13.

Get Our Latest Stock Analysis on TransAlta

TransAlta Stock Down 5.3%

TSE:TA traded down C$0.99 during trading hours on Wednesday, hitting C$17.70. 1,133,013 shares of the company traded hands, compared to its average volume of 1,716,449. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The company has a market cap of C$5.25 billion, a PE ratio of -27.66, a PEG ratio of -0.07 and a beta of 0.67. The firm’s 50-day simple moving average is C$21.54 and its 200-day simple moving average is C$18.32. TransAlta has a one year low of C$11.16 and a one year high of C$25.03.

TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last released its earnings results on Thursday, November 6th. The company reported C($0.02) earnings per share (EPS) for the quarter. TransAlta had a net margin of 7.49% and a return on equity of 12.03%. The business had revenue of C$674.00 million during the quarter.

TransAlta Company Profile

(Get Free Report)

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.

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