National Bank analyst Patrick Kenny upgraded TransAlta (TAC) to Outperform from Sector Perform with a C$22 price target The company is positioned for double-digit growth through 2029 given its net load growth in Alberta, the analyst tells investors in a research note. The firm sees a recovery in power prices towards at least the mid-$80s per megawatt hour. National Bank expects TransAlta to reach agreements with CPP and Brookfield on its Keephills power plant and to capitalize on coal-to-gas units in 2026.
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