Power Co. of Canada (TSE:POW) Hits New 12-Month High - Time to Buy?

Power Co. of Canada (TSE:POW - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$53.37 and last traded at C$53.25, with a volume of 194682 shares traded. The stock had previously closed at C$52.29.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. National Bankshares boosted their price target on shares of Power Co. of Canada from C$50.00 to C$55.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 20th. Jefferies Financial Group upped their price target on Power Co. of Canada from C$55.00 to C$56.00 in a report on Monday, April 21st. Desjardins lifted their price objective on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. BMO Capital Markets raised their target price on shares of Power Co. of Canada from C$52.00 to C$54.00 in a report on Thursday, May 22nd. Finally, CIBC cut shares of Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price objective for the company. in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$54.13.

Power Co. of Canada Stock Up 2.2%

The stock has a market capitalization of C$34.16 billion, a PE ratio of 15.09, a PEG ratio of 0.57 and a beta of 1.09. The firm's fifty day moving average is C$50.71 and its 200-day moving average is C$48.17.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.

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