Power Co. of Canada (TSE:POW) Reaches 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 Thursday after Scotiabank raised their price target on the stock from C$65.00 to C$68.00. Scotiabank currently has an outperform rating on the stock. Power Co. of Canada traded as high as C$62.96 and last traded at C$62.94, with a volume of 46709 shares traded. The stock had previously closed at C$62.26.

Several other brokerages have also recently weighed in on POW. Desjardins increased their price target on Power Co. of Canada from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday. National Bankshares raised their price objective on Power Co. of Canada from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 29th. Jefferies Financial Group downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and raised their target price for the stock from C$57.00 to C$60.00 in a research report on Monday, August 11th. TD Securities lifted their price target on Power Co. of Canada from C$56.00 to C$62.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada lifted their price target on Power Co. of Canada from C$58.00 to C$59.00 in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$60.38.

Power Co. of Canada Stock Up 1.1%

The company has a 50-day moving average of C$59.43 and a 200 day moving average of C$54.89. The firm has a market capitalization of C$40.86 billion, a PE ratio of 15.31, a PEG ratio of 0.57 and a beta of 0.91.

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).