Raymond James Upgrades TransAlta Renewables (TSE:RNW) to Outperform

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TransAlta Renewables (TSE:RNW) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has a C$16.50 price target on the stock. Raymond James’ price objective indicates a potential upside of 11.64% from the company’s previous close.

A number of other brokerages have also weighed in on RNW. TD Securities lowered shares of TransAlta Renewables from a “buy” rating to a “hold” rating and increased their target price for the stock from C$16.50 to C$17.50 in a research report on Tuesday, March 3rd. Scotiabank increased their target price on shares of TransAlta Renewables from C$16.00 to C$16.50 in a research report on Monday, March 2nd. CIBC upgraded shares of TransAlta Renewables from a “neutral” rating to an “outperform” rating and cut their target price for the stock from C$16.50 to C$15.00 in a research report on Friday, March 20th. Royal Bank of Canada increased their target price on shares of TransAlta Renewables from C$14.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Finally, National Bank Financial upgraded shares of TransAlta Renewables from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from C$17.50 to C$16.50 in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$15.56.

Shares of TSE:RNW opened at C$14.78 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.93 and a debt-to-equity ratio of 41.55. The firm has a market capitalization of $2.89 billion and a PE ratio of 21.80. TransAlta Renewables has a twelve month low of C$10.82 and a twelve month high of C$18.25. The company has a 50-day moving average price of C$15.93 and a two-hundred day moving average price of C$15.04.

About TransAlta Renewables

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Qu├ębec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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Analyst Recommendations for TransAlta Renewables (TSE:RNW)

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