Power Co. of Canada (TSE:POW) Given New C$58.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets has raised the price target for Power Co. of Canada (TSE:POW) from C$54.00 to C$58.00, indicating a potential upside of 1.84% from the current stock price.
• Other analysts have mixed sentiments, with CIBC downgrading the stock to "neutral" while Scotiabank increased its target to C$59.00, reflecting varied outlooks on the company's performance.
• Power Co. of Canada stock has recently traded at C$56.95, showing an increase of 0.2%, and has a fifty-two week price range of C$36.08 to C$57.18.

Power Co. of Canada (TSE:POW - Free Report) had its price target increased by BMO Capital Markets from C$54.00 to C$58.00 in a report issued on Thursday,BayStreet.CA reports.

A number of other research firms also recently commented on POW. TD Securities raised their price objective on shares of Power Co. of Canada from C$54.00 to C$56.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Scotiabank lifted their price target on shares of Power Co. of Canada from C$57.00 to C$59.00 in a research report on Wednesday, July 23rd. Cibc World Mkts cut shares of Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares boosted their price objective on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the company a "sector perform" rating in a report on Tuesday, July 29th. Finally, CIBC lowered shares of Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price objective on the stock. in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Price Performance

TSE:POW traded down C$0.94 during midday trading on Thursday, reaching C$56.66. The stock had a trading volume of 2,396,767 shares, compared to its average volume of 2,485,756. The stock has a market capitalization of C$36.21 billion, a P/E ratio of 16.00, a PEG ratio of 0.57 and a beta of 1.09. The firm's fifty day simple moving average is C$53.79 and its 200-day simple moving average is C$50.85. Power Co. of Canada has a 1-year low of C$36.88 and a 1-year high of C$59.00.

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).