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

Key Points

• Power Co. of Canada shares reached a new 52-week high of C$62.91 during trading, reflecting strong market interest.
• Analysts have set varying price targets for the stock, with Scotiabank raising its target to C$65.00 and a consensus average target of C$59.25.
• The company has a market cap of C$40.14 billion and maintains a diversified portfolio in financial services and other sectors.

Power Co. of Canada (TSE:POW - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$62.91 and last traded at C$62.90, with a volume of 100119 shares trading hands. The stock had previously closed at C$62.29.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets raised their target price on Power Co. of Canada from C$54.00 to C$58.00 in a research note on Thursday, August 7th. Royal Bank Of Canada cut Power Co. of Canada from a "moderate buy" rating to a "hold" rating and raised their target price for the company from C$57.00 to C$58.00 in a research note on Monday, August 11th. National Bankshares raised their target price on Power Co. of Canada from C$55.00 to C$56.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 29th. Scotiabank raised their target price on 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. Finally, Desjardins lifted 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 research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Power Co. of Canada has a consensus rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Stock Performance

The stock has a 50 day moving average of C$58.52 and a two-hundred day moving average of C$54.23. The stock has a market cap of C$40.14 billion, a PE ratio of 15.05, a PEG ratio of 0.57 and a beta of 0.91.

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).

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