Power Co. of Canada (TSE:POW) Stock Price Expected to Rise, Desjardins Analyst Says

Power Co. of Canada (TSE:POW) had its price target raised by stock analysts at Desjardins from C$75.00 to C$78.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price objective points to a potential upside of 20.00% from the stock’s current price.

Several other research analysts also recently commented on POW. National Bankshares raised their price objective 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. Jefferies Financial Group raised their price target on Power Co. of Canada from C$60.00 to C$68.00 in a report on Friday, November 14th. BMO Capital Markets lifted their price target on Power Co. of Canada from C$60.00 to C$71.00 in a research report on Wednesday, November 12th. CIBC set a C$75.00 price objective on Power Co. of Canada and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Scotiabank lifted their target price on Power Co. of Canada from C$69.00 to C$76.00 in a report on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$72.88.

Power Co. of Canada Stock Performance

Shares of POW opened at C$65.00 on Tuesday. The business has a 50-day moving average of C$71.68 and a 200 day moving average of C$64.62. Power Co. of Canada has a fifty-two week low of C$43.75 and a fifty-two week high of C$74.91. The firm has a market cap of C$41.41 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.57 and a beta of 0.75.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. The business had revenue of C$9.89 billion for the quarter. Power Co. of Canada had a net margin of 4.45% and a return on equity of 10.06%. As a group, research analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal 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.