Power Co. of Canada (TSE:POW) Price Target Raised to C$78.00

Power Co. of Canada (TSE:POW) had its price target lifted by Scotiabank from C$76.00 to C$78.00 in a report issued on Thursday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also commented on POW. National Bank Financial lifted their price objective on shares of Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group raised their price target on shares of Power Co. of Canada from C$60.00 to C$68.00 in a research note on Friday, November 14th. TD Securities cut shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Canadian Imperial Bank of Commerce set a C$75.00 price objective on Power Co. of Canada and gave the company a “neutral” rating in a report on Wednesday, November 19th. Finally, Desjardins raised their target price on Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$73.13.

Power Co. of Canada Trading Up 0.1%

POW stock opened at C$65.99 on Thursday. The stock’s fifty day simple moving average is C$70.17 and its two-hundred day simple moving average is C$65.43. Power Co. of Canada has a 1-year low of C$47.05 and a 1-year high of C$74.91. The stock has a market cap of C$42.04 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.57 and a beta of 0.75.

Power Co. of Canada (TSE:POW) last announced its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share (EPS) 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%. As a group, analysts forecast that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal year.

Power Co. of Canada Company Profile

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.