Scotiabank Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price

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 - Free Report) had its price target hoisted by Scotiabank from C$59.00 to C$65.00 in a research note published on Monday,BayStreet.CA reports. They currently have an outperform rating on the financial services provider's stock.

Several other brokerages have also weighed in on POW. Jefferies Financial Group lowered Power Co. of Canada from a "strong-buy" rating to a "hold" rating and boosted their price objective for the company from C$57.00 to C$60.00 in a report on Monday. BMO Capital Markets boosted their price target on Power Co. of Canada from C$54.00 to C$58.00 in a report on Thursday, August 7th. Cibc World Mkts cut Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada raised shares of Power Co. of Canada to a "moderate buy" rating and set a C$57.00 price objective for the company in a report on Wednesday, June 18th. Finally, National Bankshares increased their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Power Co. of Canada has an average rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Price Performance

Shares of TSE:POW traded up C$0.14 during midday trading on Monday, reaching C$57.42. The company had a trading volume of 1,040,122 shares, compared to its average volume of 2,460,140. The stock has a market capitalization of C$36.70 billion, a P/E ratio of 16.21, a PEG ratio of 0.57 and a beta of 1.09. The stock's fifty day moving average price is C$54.21 and its 200-day moving average price is C$51.12. Power Co. of Canada has a one year low of C$38.63 and a one year high of C$59.00.

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).