TransAlta

TAC · TORONTO

$12.22−$0.29 (−2.32%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $12.51

TAC analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $17.66 (+44.5% upside)

Low: $13.68
Now: $12.22
High: $20.96

Upgrades and downgrades

The latest rating actions, newest first

TAC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Mar 24, 2026	Maintains	Outperform	$24.00	50%

The case for and against

Updated Oct 23, 2025

Bull case

TransAlta Corp is positioned for long-term cash flow improvement due to strong power and ancillary prices, rising power demand, and higher carbon prices in Alberta. The company's hydro fleet contributes to its growth by delivering clean energy and ancillary services, while the investment in new projects is expected to bolster EBITDA growth. Additionally, favorable trends towards electricity demand, driven by population growth, economic development, and increasing electrification, further enhance TransAlta's financial outlook.

Bear case

TransAlta Corp is facing significant challenges as its Wind and Solar segment has reported EBITDA notably weaker than forecast, contributing to concerns about the company's overall financial health. Furthermore, a substantial reduction in expected power revenues to $40/MWh from $70/MWh signals potential difficulties in achieving material growth in electricity demand. Additionally, TransAlta's comparable EBITDA for Q1/25 fell short at $270 million, underperforming both internal forecasts and consensus estimates, which further underscores a negative outlook on the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.