TransAlta Receives Revised Price Target of C$22.00 from BMO Capital Markets

On December 18, 2024, BMO Capital Markets updated its price target for TransAlta (TSE:TA) (NYSE:TAC), raising it from C$17.00 to C$22.00. This new target indicates a potential upside of 7.06% based on the current market price of the stock.

Other financial institutions have also recently made adjustments to their projections for TransAlta. The Royal Bank of Canada increased its price target from C$14.00 to C$16.00 in a report issued on November 6. On December 5, Scotiabank reaffirmed a “strong-buy” rating on the stock. Earlier, on August 23, National Bankshares had also raised its target from C$14.00 to C$15.00 with an “outperform” rating. However, Desjardins downgraded TransAlta from a “moderate buy” to a “hold” on November 5. Afterward, on November 6, TD Securities raised its price target from C$16.00 to C$18.00 while maintaining a “buy” rating. Currently, one analyst has given a hold rating, five analysts have assigned a buy rating, and one has labeled it as a strong buy. Overall, the stock has an average rating of “Buy” according to MarketBeat, with a consensus price target standing at C$17.00.

TransAlta Stock Performance

On the day of the announcement, TransAlta’s shares opened at C$20.55. Over the past year, the stock has seen a range, with a low of C$8.22 and a high of C$20.59. The company’s fifty-day moving average is C$15.23, while the 200-day average is C$12.42. TransAlta has a market capitalization of C$6.13 billion, a PE ratio of 10.35, and a P/E/G ratio of -0.07. The stock shows a beta value of 0.93. In terms of liquidity and leverage, the company has a quick ratio of 0.62, a current ratio of 0.84, and a notably high debt-to-equity ratio of 219.87.

Recent Insider Trading Activity

In related news, there have been significant insider sales of TransAlta stock recently. Senior Officer Jane Nyla Fedoretz sold 25,000 shares on November 21 at an average price of C$15.11, totaling C$377,750. Director John Harry Kousinioris also sold 45,000 shares on December 5 for an average price of C$17.67, amounting to C$795,150. In the last three months alone, insiders have unloaded 189,584 shares for a combined value of $3,027,809. Currently, insiders own only 0.21% of the company’s shares.

About TransAlta

TransAlta Corporation is engaged in the development, production, and sale of electric energy. The company operates various segments including Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing. Its Hydro segment holds approximately 922 megawatts (MW) of hydroelectric generating capacity across locations in Alberta, British Columbia, and Ontario.

TransAlta, BMO, Stock