2023-04-12 11:28:01 ET
TransAlta ( NYSE: TAC ) +2.9% in Wednesday's trading as Credit Suisse upgraded the stock to Outperform from Neutral with a C$17 price target, raised from C$15, citing support from TransAlta Renewables and a better overall appreciation of the "two TransAltas dynamic."
Credit Suisse's upgrade is a function of Alberta power prices, TransAlta's ( TAC ) absolute and relative stock market performance that includes negative 1.32% on YTD performance and the outlook for near-term power prices in the company's core Alberta market," analyst Andrew Kuske wrote.
The pricing set-up for the Alberta power market into the remainder of the year "looks interesting to us, even with greater generation in the market dampening down pricing," Kuske said.
TransAlta ( TAC ) has "offset the renewable side weakness of the daughter company with extremely strong power pricing," Trapping Value writes in an analysis posted on Seeking Alpha .
For further details see:
TransAlta upgraded at Credit Suisse with 'plenty of powerful potential'