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

Shares of Power Co. of Canada (TSE:POW - Get Free Report) reached a new 52-week high on Monday . The company traded as high as C$53.55 and last traded at C$53.47, with a volume of 87870 shares traded. The stock had previously closed at C$52.93.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POW. BMO Capital Markets increased their target price on Power Co. of Canada from C$52.00 to C$54.00 in a research report on Thursday, May 22nd. CIBC cut Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price target on the stock. in a research note on Thursday, May 22nd. TD Securities increased their price objective on Power Co. of Canada from C$54.00 to C$56.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group boosted their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 in a report on Monday, April 21st. Finally, Royal Bank Of Canada raised shares of Power Co. of Canada to a "moderate buy" rating and set a C$57.00 target price on the stock in a research report on Wednesday, June 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Power Co. of Canada presently has an average rating of "Moderate Buy" and an average price target of C$55.38.

Power Co. of Canada Stock Down 0.3%

The firm has a market capitalization of C$34.26 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.57 and a beta of 1.09. The company has a fifty day simple moving average of C$51.25 and a 200 day simple moving average of C$48.41.

Power Co. of Canada Company Profile

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.