Power Co. of Canada (TSE:POW) Price Target Raised to C$65.00

Key Points

• Scotiabank raised its price target for Power Co. of Canada from C$59.00 to C$65.00, indicating a potential upside of 14.82% from the current stock price.
• Multiple analysts have given varied ratings on the stock, with some upgrading their price targets while CIBC downgraded its rating to "neutral" with a C$55.00 target.
• Power Co. of Canada has a current trading price of C$56.61, with a market cap of C$36.18 billion and trading at a PE ratio of 15.98.

Power Co. of Canada (TSE:POW - Get Free Report) had its price objective increased by Scotiabank from C$59.00 to C$65.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the financial services provider's stock. Scotiabank's target price suggests a potential upside of 14.82% from the company's current price.

Several other analysts have also recently commented on POW. CIBC cut Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price target for the company. in a research report on Thursday, May 22nd. TD Securities upped their price target on 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. 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. BMO Capital Markets upped their price target on Power Co. of Canada from C$54.00 to C$58.00 in a report on Thursday. Finally, Royal Bank Of Canada upgraded Power Co. of Canada to a "moderate buy" rating and set a C$57.00 price objective on the stock in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Power Co. of Canada presently has an average rating of "Hold" and a consensus target price of C$59.25.

Power Co. of Canada Price Performance

TSE:POW traded down C$0.99 during trading hours on Monday, reaching C$56.61. The company had a trading volume of 766,130 shares, compared to its average volume of 2,474,413. Power Co. of Canada has a 1-year low of C$36.88 and a 1-year high of C$59.00. The firm has a market cap of C$36.18 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The business's 50 day moving average price is C$53.70 and its 200-day moving average price 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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