Power Co. of Canada (TSE:POW) Price Target Raised to C$62.00 at Scotiabank

Power Co. of Canada (TSE:POW) had its price target boosted by investment analysts at Scotiabank from C$56.00 to C$62.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 24.37% from the stock’s current price.

A number of other analysts also recently commented on the stock. Cibc World Mkts raised shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. BMO Capital Markets upped their price target on shares of Power Co. of Canada from C$49.00 to C$52.00 in a research report on Friday, March 14th. Desjardins increased their price target on shares of Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. CIBC raised shares of Power Co. of Canada from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$48.00 to C$55.00 in a research note on Friday, February 7th. Finally, TD Securities lifted their target price on Power Co. of Canada from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$54.13.

Power Co. of Canada Price Performance

Shares of TSE POW traded down C$0.44 during midday trading on Friday, hitting C$49.85. 1,574,620 shares of the company’s stock were exchanged, compared to its average volume of 2,226,583. Power Co. of Canada has a twelve month low of C$35.83 and a twelve month high of C$50.79. The firm’s fifty day simple moving average is C$46.51 and its 200-day simple moving average is C$45.16. The company has a market cap of C$31.86 billion, a PE ratio of 14.08, a P/E/G ratio of 0.57 and a beta of 1.09.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.