Power Co. of Canada (TSE:POW) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Power Co. of Canada shares exceeded their 200-day moving average on Wednesday, trading at C$61.48 after reaching a peak of C$62.88.
• Analysts have raised their price targets for the stock, with Scotiabank increasing it from C$59.00 to C$65.00 and maintaining an "outperform" rating.
• The consensus rating for the stock is currently "Hold," with an average target price of C$59.38, reflecting mixed sentiments from investment analysts.

Shares of Power Co. of Canada (TSE:POW - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$54.34 and traded as high as C$62.88. Power Co. of Canada shares last traded at C$61.48, with a volume of 2,119,154 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank lifted their price target on shares of Power Co. of Canada from C$59.00 to C$65.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. BMO Capital Markets lifted their price target on shares of Power Co. of Canada from C$54.00 to C$58.00 in a research note on Thursday, August 7th. Desjardins lifted their price target on shares of 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. National Bankshares boosted their price objective 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. Finally, Jefferies Financial Group cut shares of Power Co. of Canada from a "buy" rating to a "hold" rating and boosted their price objective for the company from C$57.00 to C$60.00 in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$59.38.

Power Co. of Canada Trading Down 1.6%

The firm's 50-day moving average price is C$58.74 and its two-hundred day moving average price is C$54.34. The stock has a market cap of C$39.43 billion, a PE ratio of 14.78, 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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