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

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 stock price reached a new 52-week high during mid-day trading on Thursday . The company 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 analysts have recently weighed in on POW shares. National Bankshares lifted their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 29th. TD Securities upped their price target on shares of Power Co. of Canada from C$56.00 to C$62.00 and gave the company a "buy" rating in a report on Monday, August 11th. Cibc World Mkts lowered shares of Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank increased 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 report on Monday, August 11th. Finally, Jefferies Financial Group downgraded shares of Power Co. of Canada from a "buy" rating to a "hold" rating and increased their price objective for the stock from C$57.00 to C$60.00 in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Power Co. of Canada 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 cap of C$36.78 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.57 and a beta of 0.96. The company's 50 day moving average price is C$56.44 and its 200-day moving average price is C$52.85.

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).