Power Co. of Canada (TSE:POW) Reaches New 12-Month High After Analyst Upgrade

Power Co. of Canada (TSE:POW - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday after Scotiabank raised their price target on the stock from C$57.00 to C$59.00. The stock traded as high as C$55.37 and last traded at C$54.76, with a volume of 2288436 shares. The stock had previously closed at C$54.53.

Several other equities research analysts have also recently weighed in on POW. CIBC cut shares of Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price objective for the company. in a research report on Thursday, May 22nd. Jefferies Financial Group upped their price objective on shares of Power Co. of Canada from C$55.00 to C$56.00 in a research report on Monday, April 21st. 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 research report on Wednesday, June 18th. TD Securities upped their price objective on shares of Power Co. of Canada from C$54.00 to C$56.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets boosted their target price on Power Co. of Canada from C$52.00 to C$54.00 in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$55.63.

Power Co. of Canada Trading Up 0.4%

The firm has a market cap of C$35.50 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The stock has a fifty day simple moving average of C$52.58 and a two-hundred day simple moving average of C$49.65.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.