TransAlta Maintained at Outperform at National Bank Following Q3 Results; Price Target Raised to C$16.00

MT Newswires11-07

National Bank on Wednesday reiterated its outperform rating on the shares of TransAlta (TA.TO, TAC) while raising its price target to C$16.00 from C$15.00 following the utility's third-quarter results...

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Meanwhile, the decision to mothball Sundance 6 effective April 1, 2025 for a period of up to two years is partially offset by increased capacity factors expected at Keephills 2 & 3. Elsewhere, the company remains actively engaged with both Energy Capital Partners and the Competition Bureau to obtain regulatory approval for the $658 mln Heartland acquisition. Overall, our target moves up $1 to $16 and combined with further valuation upside related to a re-rate of our 6.0x multiple for the Merchant Alberta Gas segment pending confirmation of strategic reserve contracting and/or potential data center co-location development, we maintain our Outperform rating,\" analyst Patrick Kenny wrote.\n\n (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. 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