CIBC Upgrades TransAlta (TAC)
Fintel reports that on February 18, 2025, CIBC upgraded their outlook for TransAlta (NYSE:TAC) from Neutral to Outperformer.
Analyst Price Forecast Suggests 25.93% Upside
As of January 29, 2025, the average one-year price target for TransAlta is $13.26/share. The forecasts range from a low of $7.21 to a high of $16.81. The average price target represents an increase of 25.93% from its latest reported closing price of $10.53 / share.
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The projected annual revenue for TransAlta is 2,126MM, a decrease of 23.83%. The projected annual non-GAAP EPS is 0.13.
What is the Fund Sentiment?
There are 255 funds or institutions reporting positions in TransAlta. This is an increase of 35 owner(s) or 15.91% in the last quarter. Average portfolio weight of all funds dedicated to TAC is 0.27%, an increase of 39.85%. Total shares owned by institutions increased in the last three months by 6.64% to 201,690K shares. 
The put/call ratio of TAC is 0.19, indicating a bullish outlook.
What are Other Shareholders Doing?
Brookfield Asset Management holds 35,523K shares representing 11.90% ownership of the company. In its prior filing, the firm reported owning 35,518K shares , representing an increase of 0.01%. The firm increased its portfolio allocation in TAC by 37.82% over the last quarter.
Royal Bank Of Canada holds 29,892K shares representing 10.02% ownership of the company. In its prior filing, the firm reported owning 41,848K shares , representing a decrease of 40.00%. The firm decreased its portfolio allocation in TAC by 86.96% over the last quarter.
Bank Of Montreal holds 9,290K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 8,194K shares , representing an increase of 11.80%. The firm decreased its portfolio allocation in TAC by 62.65% over the last quarter.
Connor, Clark & Lunn Investment Management holds 7,995K shares representing 2.68% ownership of the company. In its prior filing, the firm reported owning 1,082K shares , representing an increase of 86.47%. The firm increased its portfolio allocation in TAC by 839.05% over the last quarter.
Rubric Capital Management holds 7,613K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 5,623K shares , representing an increase of 26.14%. The firm increased its portfolio allocation in TAC by 45.63% over the last quarter.
Transalta Background Information
(This description is provided by the company.)
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydro-electric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and has been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change Management. TransAlta is proud to have achieved the Silver level PAR (Progressive Aboriginal Relations) designation by the Canadian Council for Aboriginal Business.
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This story originally appeared on Fintel.