Scotiabank Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price

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

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada increased their price target on Power Co. of Canada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce set a C$75.00 price objective on shares of Power Co. of Canada and gave the company a “neutral” rating in a report on Wednesday, November 19th. TD Securities downgraded shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. BMO Capital Markets upped their price target on shares of Power Co. of Canada from C$60.00 to C$71.00 in a research note on Wednesday, November 12th. Finally, Desjardins raised their price objective on shares of Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$73.13.

Power Co. of Canada Stock Up 0.4%

POW opened at C$65.92 on Thursday. Power Co. of Canada has a twelve month low of C$47.05 and a twelve month high of C$74.91. The company’s 50-day moving average price is C$70.32 and its two-hundred day moving average price is C$65.29. The stock has a market cap of C$42.00 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.57 and a beta of 0.75.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. Power Co. of Canada had a net margin of 4.45% and a return on equity of 10.06%. The company had revenue of C$9.89 billion for the quarter. As a group, sell-side analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

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.