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TransAltaはデータセンター需要の「上昇転換」を予測しているとRBCが発表

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-- TransAlta（TAC）は今後数四半期で「上昇転換」の可能性を秘めているものの、RBCキャピタル・マーケッツは木曜日のレポートで、投資判断はアルバータ州の電力網の逼迫とデータセンター主導の需要増加に関連した、より長期的な視点に基づくものだと指摘した。 RBCは、予想を下回る第1四半期決算は全体的な投資判断を変えるものではなく、データセンターの負荷増加の可能性と州内のプロジェクトの見通しの改善を強調した。また、TransAltaが2026年の業績見通しを再確認したことは、投資家にとって「安心材料」となるだろうと述べた。 同社の投資判断は、高い稼働率、規律あるヘッジ戦略、そして健全なバランスシートによって「堅調」なままである。RBCは、この状況は忍耐を要するものであり、需給バランスが逼迫する2028年以降に大きな上昇余地が生まれると予想している。 RBCは、TransAltaのヘッジ戦略と資産最適化により、「水力発電とガス発電の両発電設備全体でスポット価格を約45～50%上回る実現価格が得られた」と指摘した。 RBCは、今回の結果は同社の商業・産業向けポートフォリオの価値と積極的なポートフォリオ運用を裏付けるものだと述べた。 RBCはまた、アルバータ州の電力先物価格は、データセンター関連の潜在的な需要増加を「十分に織り込んでいない」と付け加えた。この需要は早ければ2027年にも始まる可能性があるものの、負荷増加が本格化する2020年代後半に、より顕著な影響が現れるだろうと予測している。 同社は、この銘柄に対し「アウトパフォーム」の投資判断を下し、目標株価を24カナダドルとしている。

Price: $12.76, Change: $-0.03, Percent Change: -0.23%

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