The Globe and Mail reports in its Wednesday edition that iA Capital Markets analyst Naji Baydoun has reaffirmed his "strong buy" recommendation for TransAlta. The Globe's David Leeder writes in the Eye On Equities column that Mr. Baydoun gave his share target a 50-cent boost to $17.50. Analysts on average target the shares at $16.50. Mr. Baydoun says in a note: "Management expects to provide an update on the company's growth plans at an Investor Day event in Q4/23 following the expected closing of the RNW buyout transaction. ... TransAlta remains well positioned to continue generating significant FCF in H2/23 providing capital allocation flexibility, which includes an opportunistic NCIB to enhance long-term shareholder value. TransAlta completed approximately $35-million in share buybacks during the quarter and returned $71-million year-to-date via the repurchase of six million shares (more than 2 per cent of total o/s). Overall, we continue to see TransAlta as well-positioned to capitalize on elevated power prices to generate higher near-term FCF and execute on its strategic priorities." The Globe reported on July 5 that Mr. Baydoun had reiterated his "strong buy" call when TransAlta shares were worth $12.42.