Great-West Lifeco (TSE:GWO) Given New C$70.00 Price Target at TD Securities

Great-West Lifeco (TSE:GWO) had its target price hoisted by investment analysts at TD Securities from C$66.00 to C$70.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 15.42% from the company’s current price.

A number of other research firms have also recently weighed in on GWO. BMO Capital Markets upped their target price on shares of Great-West Lifeco from C$55.00 to C$56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Scotiabank increased their price target on shares of Great-West Lifeco from C$59.00 to C$61.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. CIBC increased their price target on shares of Great-West Lifeco from C$57.00 to C$65.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Barclays increased their price target on shares of Great-West Lifeco from C$58.00 to C$59.00 in a research note on Thursday. Finally, UBS Group raised shares of Great-West Lifeco to a “strong-buy” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Great-West Lifeco presently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.00.

Great-West Lifeco Stock Performance

Shares of GWO traded up C$1.33 during trading hours on Thursday, reaching C$60.65. 667,393 shares of the company traded hands, compared to its average volume of 2,581,368. The stock’s fifty day moving average is C$56.52 and its 200 day moving average is C$53.65. The stock has a market cap of C$56.09 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.63. Great-West Lifeco has a 1-year low of C$44.89 and a 1-year high of C$61.39.

Great-West Lifeco announced that its Board of Directors has approved a share repurchase program on Tuesday, August 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Great-West Lifeco

Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm’s profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement.