RE:VERY Positive 3rd Q results,,,,,,,,,,,,,,,,,,,,,,,,Well looks like My TransAlta is Doing BURN OUTS on the Staging Area__Getting READY for the
Ultimate RECORD 1/4 Mile Run eh !!!!!
STILL Needs Some TUNING UP of the Custom BROOKFIELD ASSET Managment BLOWER
BUT WATCH OUT__When BrookField HAMMERS the Gas Pedal__the REAL 1/4 MILE RUN Takes
Place eh !!!!!
I HAVE BEEN Betting HUGE on this RUN__as My TransAlta__Series of Preferred Shares__ IS My
4th Largest Portfolio Holding.
RBC Capital Markets Says TransAlta's Solid Q3 Results Will Reverse Negative Sentiment
09 Nov 2022 10:46 ET
RBC Capital Markets said Tuesday that TransAlta Corp. (TA.TO)'s solid third-quarter results will not only reverse the negative sentiment on the company but will also refocus the market on its strong free cash flow generation and abundant capital allocation option.
TransAlta upgraded its 2022 EBITDA guidance to the range of $1.38 billion to $1.46 billion from the previous target of $1.07 billion to $1.19 billion. Free cash flow guidance was also lifted to the range of $725 million to $775 million from $455 million to $555 million.
The company also committed to increasing its buyback activity while increasing its dividend by 10% to $0.22.
"As TransAlta delivers the renewable development projects on time and within target project economics, we see market support for TransAlta to enlarge/accelerate its 2 GW growth target, particularly amidst the supportive policy landscape in Canada and in the U.S.," RBC said.
RBC gave TransAlta an outperform rating with a $17.00 price target.
Meanwhile, National Bank of Canada raised TransAlta's price target to $14.00 from $13.00 with a sector perform rating.
The company's adjusted EBITDA of $555 million in the third quarter beat the bank's estimate of $446 million and street consensus of $359 million.
The bank noted that TransAlta expects capital costs to push higher amid inflationary pressures while anticipating contracted cash flows.
- TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by analysts at Scotiabank from C$15.50 to C$16.00. This represents a 25.2% upside from the current price of C$12.78.
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- TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by analysts at CSFB from C$15.00 to C$17.00. This represents a 33.0% upside from the current price of C$12.78.
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- TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by analysts at ATB Capital from C$16.50 to C$17.50. This represents a 36.9% upside from the current price of C$12.78.
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- TransAlta (TSE:TA) (NYSE:TAC) had its price target lowered by analysts at TD Securities from C$18.00 to C$17.50. They now have a "buy" rating on the stock. This represents a 36.9% upside from the current price of C$12.78.
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- TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by analysts at National Bankshares, Inc. from C$13.00 to C$14.00. They now have a "sector perform" rating on the stock. This represents a 9.5% upside from the current price of C$12.78.
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- TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by analysts at Credit Suisse Group AG to C$17.00. They now have an "outperform" rating on the stock. This represents a 33.0% upside from the current price of C$12.78.