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

TransAlta (TSE:TA) (NYSE:TAC) had its price target lifted by equities researchers 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 objective would suggest a potential upside of 7.77% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. TD Securities cut their price objective on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating on the stock in a report on Friday. CIBC increased their target price 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. Scotiabank lifted their price target on shares of TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. National Bankshares upped their price objective on shares of TransAlta from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Desjardins raised their price objective on 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 given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$23.33.

TransAlta Stock Up 2.3%

Shares of TSE TA traded up C$0.50 during midday trading on Monday, hitting C$22.27. 916,987 shares of the company’s stock were exchanged, compared to its average volume of 1,770,212. The firm’s fifty day simple moving average is C$20.64 and its 200-day simple moving average is C$16.91. The company has a market cap of C$6.60 billion, a PE ratio of -41.24, a P/E/G ratio of -0.07 and a beta of 0.74. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$25.03. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62.

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.