TransAlta resumed with an Outperform at Scotiabank

Scotiabank analyst Robert Hope resumed coverage of TransAlta (TAC) with an Outperform rating and a price target of C$19, up from C$15.50, after a “lengthy” period of restriction. The firm believes TransAlta’s thermal and renewable asset base is well positioned to benefit from the significant increase in electricity demand being seen across the continent driven by nearshoring, electrification, and data centers, the analyst tells investors.