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Highlights

  • National Bankshares lifts TransAlta’s target price from CAD 16.00 to CAD 17.00
  • Majority of analysts maintain “buy” or “strong buy” stance on the utility stock
  • Latest target implies a modest upside of 2.04% from previous close

Shares of TransAlta (TSE:TA, NYSE:TAC) saw a modest bump in sentiment after National Bankshares raised its price target from CAD 16.00 to CAD 17.00 in a new research note published Tuesday, as reported by BayStreet.ca. The brokerage reiterated its “outperform” rating, projecting a 2.04% upside from the stock’s last close. The revision joins a broader wave of upward rating actions from major analysts.

TransAlta, a Canadian-based independent power producer, operates a diversified and expanding portfolio across Canada, the U.S., and Australia. The company’s generation assets span hydro, wind, solar, gas, battery storage, and energy transition infrastructure. Its revenues stem from energy sales, capacity contracts, environmental credits, and thermal byproducts.

National Bankshares is not the only firm taking a more constructive view on the company. ATB Capital increased its target from CAD 18.00 to CAD 20.00 and maintained an “outperform” rating. Jefferies Financial Group upgraded the stock from “hold” to “buy,” raising its target to CAD 20.00. Similarly, Scotiabank lifted its stance to “strong buy” with a revised price objective of CAD 20.00, while TD Securities and CIBC also moved their targets to CAD 20.00. This consensus reflects increasing institutional confidence in the utility’s strategic positioning within the energy transition landscape.

In total, nine analysts now cover TransAlta, with one rating it a “hold,” six as “buy,” and two assigning a “strong buy.” While price targets have generally clustered around the CAD 20.00 mark, the average estimate still represents only a moderate upside based on recent market pricing.