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

TransAlta (TSE:TA) (NYSE:TAC) had its price objective upped by research analysts at CIBC from C$25.00 to C$26.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 50.12% from the company’s previous close.

A number of other equities analysts also recently commented on TA. TD Securities boosted their target price on shares of TransAlta from C$26.00 to C$27.00 and gave the stock a “buy” rating in a research note 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. ATB Capital increased their price objective on TransAlta from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Scotiabank boosted their target price 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. Finally, Royal Bank Of Canada upped their price target on TransAlta from C$20.00 to C$24.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$25.13.

TransAlta Stock Down 2.0%

Shares of TSE:TA opened at C$17.32 on Wednesday. TransAlta has a fifty-two week low of C$11.16 and a fifty-two week high of C$25.03. The firm’s 50 day moving average price is C$21.37 and its 200 day moving average price is C$18.31. 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 stock has a market cap of C$5.14 billion, a price-to-earnings ratio of -27.06, a price-to-earnings-growth ratio of -0.07 and a beta of 0.67.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings results on Thursday, November 6th. The company reported C($0.02) EPS for the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.The firm had revenue of C$674.00 million for the quarter.

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.