TransAlta price target raised to C$27 from C$20 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the firm’s price target on TransAlta (TAC) to C$27 from C$20 and keeps a Buy rating on the shares. The firm believes the upslope in Alberta forward price curve points to “incremental runway” for the shares to move higher. TransAlta shares have “multiple upside catalysts” in Q4, including potential guidance for Alberta Phase 1 and 2 opportunities at the November investor day, the analyst tells investors in a research note.