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

Key Points

• Desjardins has increased its target price for Power Co. of Canada (TSE:POW) from C$60.00 to C$65.00, maintaining a "buy" rating, indicating a potential upside of 2.98% from the previous close.
• Other analysts have varied ratings and target price adjustments, with Jefferies downgrading the stock to "hold," while both Scotiabank and TD Securities raised their target prices to C$65.00 and C$62.00, respectively.
• Power Co. of Canada shares saw a midday increase of 1.4%, reaching C$63.12 during trading, with a market capitalization of C$40.48 billion.

Power Co. of Canada (TSE:POW - Get Free Report) had its target price lifted by analysts at Desjardins from C$60.00 to C$65.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. Desjardins' price target points to a potential upside of 2.98% from the company's previous close.

Several other brokerages have also recently commented on POW. Jefferies Financial Group cut Power Co. of Canada from a "buy" rating to a "hold" rating and boosted their target price for the stock from C$57.00 to C$60.00 in a report on Monday, August 11th. National Bankshares boosted their target price on Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 29th. Scotiabank boosted their target price on Power Co. of Canada from C$59.00 to C$65.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. BMO Capital Markets lifted their price target on shares of Power Co. of Canada from C$54.00 to C$58.00 in a research report on Thursday, August 7th. Finally, TD Securities lifted their price target on shares of Power Co. of Canada from C$56.00 to C$62.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$60.00.

Power Co. of Canada Trading Up 1.4%

TSE:POW traded up C$0.86 during midday trading on Thursday, hitting C$63.12. 438,349 shares of the stock were exchanged, compared to its average volume of 2,421,297. Power Co. of Canada has a one year low of C$41.88 and a one year high of C$63.22. The company has a market capitalization of C$40.48 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.57 and a beta of 0.91. The business has a 50-day moving average price of C$59.19 and a two-hundred day moving average price of C$54.69.

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).

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