Power Co. of Canada (TSE:POW) Downgraded by Jefferies Financial Group to "Hold"

Key Points

• Jefferies Financial Group downgraded Power Co. of Canada from a "buy" to a "hold" rating while raising the target price to C$60.00, indicating a potential upside of 5.99%.
• Other analysts have mixed views, with National Bankshares raising their target to C$56.00 while CIBC downgraded their rating to "neutral" and set a target at C$55.00.
• The stock experienced a decline of 1.7% on Monday, closing at C$56.61, with a current market capitalization of C$36.18 billion.

Power Co. of Canada (TSE:POW - Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$60.00 target price on the financial services provider's stock, up from their prior target price of C$57.00. Jefferies Financial Group's price target would indicate a potential upside of 5.99% from the company's current price.

A number of other research analysts have also issued reports on the stock. National Bankshares upped their price target 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 research note on Tuesday, July 29th. CIBC downgraded shares of Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 target price on the stock. in a research note on Thursday, May 22nd. Cibc World Mkts downgraded shares of Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank upped their price objective on shares of Power Co. of Canada from C$57.00 to C$59.00 in a research report on Wednesday, July 23rd. Finally, TD Securities increased their price objective on shares of Power Co. of Canada from C$56.00 to C$62.00 and gave the company a "buy" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$59.25.

Power Co. of Canada Stock Down 1.7%

TSE:POW traded down C$0.99 during mid-day trading on Monday, hitting C$56.61. 766,130 shares of the stock traded hands, compared to its average volume of 2,474,413. The stock has a market capitalization of C$36.18 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a 52 week low of C$36.88 and a 52 week high of C$59.00. The firm's 50 day moving average is C$53.70 and its two-hundred day moving average is C$50.76.

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).

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