The Globe and Mail reports in its Wednesday, Oct. 11, edition that CIBC World Markets analyst Mark Jarvi is keeping his "outperformer" call on TransAlta intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Jarvi trimmed his share target by a loonie to $17.50. Analysts on average target the shares at $16.40. Mr. Jarvi says in a note: "We believe the completed buyout of TransAlta Renewables (RNW) is a key step to making TransAlta a more investable stock and puts TransAlta on a path to achieving a higher trading multiple. Not only does taking out RNW clean up the structure, but the deal is also accretive, with more retained cash flow to allocate to key priorities. In the near term, prices/forwards in the Alberta power market are softening, but TransAlta is still on track to drive over $900-million of FCF this year, which enhances an already solid balance sheet. Continued execution on growth and a shift to a more stable, higher-valued asset mix coupled with ongoing return of capital should drive a higher valuation and share price. TransAlta is not immune to some of the pressure on the power and utility sector, and we've adjusted our valuation accordingly."