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

Key Points

• Power Co. of Canada has reached a new 52-week high, trading at C$60.50 during mid-day on Monday, with a significant trading volume of 254,859 shares.
• Analysts have mixed views on the stock, with Royal Bank of Canada downgrading it to "hold," while TD Securities and Scotiabank set higher price targets of C$62.00 and C$65.00, respectively, indicating a "buy" rating.
• The company boasts a strong market cap of C$38.94 billion and maintains an average stock rating of "Hold" with a consensus price target of C$59.25.

Power Co. of Canada (TSE:POW - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$60.50 and last traded at C$60.44, with a volume of 254859 shares changing hands. The stock had previously closed at C$60.14.

Analysts Set New Price Targets

A number of analysts have weighed in on POW shares. 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 stock from C$57.00 to C$58.00 in a research report on Monday, August 11th. TD Securities lifted their price objective on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Scotiabank raised their price target on Power Co. of Canada from C$59.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. BMO Capital Markets raised their price target on Power Co. of Canada from C$54.00 to C$58.00 in a research report on Thursday, August 7th. Finally, Desjardins lifted 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. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$59.25.

Power Co. of Canada Stock Up 1.0%

The company has a 50 day moving average of C$57.90 and a 200 day moving average of C$53.84. The firm has a market cap of C$38.94 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.57 and a beta of 0.91.

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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