Power Co. of Canada (TSE:POW) Reaches New 1-Year High - Here's What Happened

Key Points

• Power Co. of Canada reached a new 52-week high, with shares trading at C$59.06 during Thursday's session, a significant increase from the previous close of C$58.68.
• Several analysts updated their ratings for Power Co., with Desjardins raising their price target to C$60.00 and Scotiabank increasing it to C$65.00, while Jefferies downgraded the stock from "buy" to "hold."
• The company has a market capitalization of C$38.05 billion and currently holds a consensus target price of C$59.25 with an average rating of "Hold" among analysts.

Power Co. of Canada (TSE:POW - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$59.06 and last traded at C$58.99, with a volume of 79448 shares changing hands. The stock had previously closed at C$58.68.

Analyst Upgrades and Downgrades

Several research firms recently commented on POW. Desjardins increased their price objective on Power Co. of Canada from C$55.00 to C$60.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Jefferies Financial Group cut Power Co. of Canada from a "buy" rating to a "hold" rating and increased their price objective for the company from C$57.00 to C$60.00 in a research report on Monday, August 11th. Scotiabank increased their price objective on Power Co. of Canada from C$59.00 to C$65.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Cibc World Mkts cut Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada cut Power Co. of Canada from a "moderate buy" rating to a "hold" rating and increased their price objective for the company from C$57.00 to C$58.00 in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of C$59.25.

Power Co. of Canada Stock Performance

The stock has a market capitalization of C$38.05 billion, a PE ratio of 14.26, a PEG ratio of 0.57 and a beta of 0.96. The stock has a 50-day moving average price of C$56.06 and a two-hundred day moving average price of C$52.57.

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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