TransAlta (TSE:TA) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a hold rating to a buy rating in a report released on Thursday morning,BayStreet.CA reports. They currently have C$20.00 target price on the stock, up from their prior target price of C$12.00.

Several other research firms also recently commented on TA. CIBC upped their price target on shares of TransAlta from C$18.50 to C$19.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Scotiabank dropped their target price on shares of TransAlta from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. Desjardins dropped their target price on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada dropped their price objective on shares of TransAlta from C$23.00 to C$20.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, ATB Capital cut their target price on shares of TransAlta from C$19.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$18.22.

TransAlta Price Performance

TSE:TA opened at C$15.08 on Thursday. TransAlta has a one year low of C$9.30 and a one year high of C$21.22. The company has a market cap of C$4.53 billion, a P/E ratio of 21.49, a P/E/G ratio of -0.07 and a beta of 0.93. The firm’s fifty day moving average price is C$12.78 and its two-hundred day moving average price is C$15.25. 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.