Power Co. of Canada (TSE:POW) Sets New 1-Year High Following Analyst Upgrade

Power Co. of Canada (TSE:POW)’s share price reached a new 52-week high during trading on Wednesday after National Bankshares raised their price target on the stock from C$55.00 to C$56.00. National Bankshares currently has a sector perform rating on the stock. Power Co. of Canada traded as high as C$55.75 and last traded at C$55.42, with a volume of 992285 shares. The stock had previously closed at C$55.35.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets upped their price target on Power Co. of Canada from C$52.00 to C$54.00 in a research note on Thursday, May 22nd. Scotiabank upped their price target on Power Co. of Canada from C$57.00 to C$59.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada upgraded Power Co. of Canada to a “moderate buy” rating and set a C$57.00 price target for the company in a research note on Wednesday, June 18th. Jefferies Financial Group upped their price target on Power Co. of Canada from C$55.00 to C$56.00 in a research note on Monday, April 21st. Finally, Cibc World Mkts cut Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$55.75.

Power Co. of Canada Stock Up 0.5%

The company has a market cap of C$35.60 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The company has a fifty day simple moving average of C$52.89 and a two-hundred day simple moving average of C$49.94.

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.