Power Co. of Canada (TSE:POW) Given New C$68.00 Price Target at Scotiabank

Key Points

• Scotiabank has increased its price target for Power Co. of Canada from C$65.00 to C$68.00, suggesting a potential upside of 6.60% from the current share price.
• The stock has received a mix of ratings, with three analysts giving it a "Buy" recommendation and six labeling it as a "Hold," resulting in a consensus target price of C$60.38.
• Power Co. of Canada shares rose by 1.2% to C$63.79 during trading, with a market capitalization of C$40.91 billion.

Power Co. of Canada (TSE:POW - Get Free Report) had its target price boosted by research analysts at Scotiabank from C$65.00 to C$68.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. Scotiabank's price target would indicate a potential upside of 6.60% from the company's current price.

POW has been the topic of a number of other reports. BMO Capital Markets boosted their target price on Power Co. of Canada from C$54.00 to C$58.00 in a report on Thursday, August 7th. TD Securities increased their target price on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. National Bankshares increased 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 research note on Tuesday, July 29th. Royal Bank Of Canada increased their target price on Power Co. of Canada from C$58.00 to C$59.00 in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group lowered Power Co. of Canada from a "buy" rating to a "hold" rating and increased their target price for the stock from C$57.00 to C$60.00 in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$60.38.

Power Co. of Canada Stock Up 1.2%

Shares of POW stock traded up C$0.75 during trading on Friday, reaching C$63.79. 445,294 shares of the company's stock were exchanged, compared to its average volume of 2,428,337. The stock has a market capitalization of C$40.91 billion, a PE ratio of 15.33, a PEG ratio of 0.57 and a beta of 0.91. Power Co. of Canada has a twelve month low of C$41.88 and a twelve month high of C$63.93. The firm's fifty day moving average price is C$59.31 and its 200-day moving average price is C$54.78.

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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