TD Securities Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its price target lifted by TD Securities from C$56.00 to C$62.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target indicates a potential upside of 8.66% from the stock’s previous close.

Several other research firms also recently weighed in on POW. Royal Bank Of Canada raised Power Co. of Canada to a “moderate buy” rating and set a C$57.00 target price on the stock in a research report on Wednesday, June 18th. BMO Capital Markets boosted their price objective on shares of Power Co. of Canada from C$54.00 to C$58.00 in a research report on Thursday, August 7th. CIBC downgraded shares of Power Co. of Canada from an “outperform” rating to a “neutral” rating and set a C$55.00 target price on the stock. in a research note on Thursday, May 22nd. National Bankshares lifted their price target on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group upped their price target on shares of Power Co. of Canada from C$55.00 to C$56.00 in a report on Monday, April 21st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$59.25.

Power Co. of Canada Price Performance

Shares of POW stock opened at C$57.06 on Monday. The company has a market cap of C$36.47 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a 1 year low of C$37.56 and a 1 year high of C$59.00. The stock’s 50 day simple moving average is C$53.90 and its two-hundred day simple moving average is C$50.89.

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).