Royal Bank Of Canada Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its price objective increased by investment analysts at Royal Bank Of Canada from C$68.00 to C$69.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 0.90% from the company’s current price.

A number of other brokerages have also recently weighed in on POW. Desjardins upped their price objective on shares of Power Co. of Canada from C$60.00 to C$65.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. National Bankshares lifted their target price on shares of Power Co. of Canada from C$58.00 to C$64.00 and gave the stock a “sector perform” rating in a report on Monday, October 27th. TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Jefferies Financial Group lifted their price objective on Power Co. of Canada from C$60.00 to C$68.00 in a research note on Friday, November 14th. Finally, CIBC set a C$75.00 target price on Power Co. of Canada and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$69.63.

Power Co. of Canada Stock Performance

POW opened at C$69.63 on Monday. The company has a market cap of C$44.36 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.57 and a beta of 0.93. The stock has a 50-day moving average of C$71.95 and a 200-day moving average of C$64.08. Power Co. of Canada has a 52-week low of C$42.50 and a 52-week high of C$74.91.

Power Co. of Canada (TSE:POW) last posted its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share for the quarter. The firm had revenue of C$9.89 billion during the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%. On average, research analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.