Power Co. of Canada (TSE:POW) Hits New 52-Week High - Should You Buy?

Key Points

• Power Co. of Canada shares reached a new 52-week high of C$59.73, closing at C$59.64, with a trading volume of 85,203 shares.
• Several Wall Street analysts have recently adjusted their ratings, with Royal Bank of Canada and Jefferies Financial Group downgrading from "buy" to "hold" while Scotiabank raised its target to C$65.00 and maintained an "outperform" rating.
• The company has a market capitalization of C$38.35 billion, a P/E ratio of 14.38, and an average analyst target price of C$59.25, indicating a consensus hold rating for the stock.

Shares of Power Co. of Canada (TSE:POW - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$59.73 and last traded at C$59.64, with a volume of 85203 shares. The stock had previously closed at C$59.17.

Wall Street Analysts Forecast Growth

POW has been the topic of several research reports. Royal Bank Of Canada cut Power Co. of Canada from a "moderate buy" rating to a "hold" rating and lifted their price objective for the company from C$57.00 to C$58.00 in a research report on Monday, August 11th. Jefferies Financial Group lowered Power Co. of Canada from a "buy" rating to a "hold" rating and lifted their target price for the company from C$57.00 to C$60.00 in a research note on Monday, August 11th. Desjardins upped their price target on Power Co. of Canada from C$55.00 to C$60.00 and gave the stock a "buy" rating in a report on Monday, August 11th. National Bankshares raised their price target on Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 29th. Finally, Scotiabank boosted their price objective on shares of Power Co. of Canada from C$59.00 to C$65.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Stock Up 1.1%

The stock has a fifty day simple moving average of C$57.39 and a 200-day simple moving average of C$53.47. The company has a market capitalization of C$38.35 billion, a P/E ratio of 14.38, a PEG ratio of 0.57 and a beta of 0.96.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.