Power Co. of Canada (TSE:POW) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Power Co. of Canada (TSE:POW) recently crossed above its two hundred day moving average of C$52.22, reaching a high of C$58.50 before last trading at C$58.23.
• Wall Street analysts have varying outlooks, with BMO Capital Markets increasing their target price to C$58.00, while CIBC downgraded the stock from "outperform" to "neutral" with a target of C$55.00.
• The company's market capitalization stands at C$37.34 billion, and it has an average rating of "Hold" from analysts alongside an average price target of C$59.25.

Shares of Power Co. of Canada (TSE:POW - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$52.22 and traded as high as C$58.50. Power Co. of Canada shares last traded at C$58.23, with a volume of 1,448,560 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on POW shares. BMO Capital Markets boosted their target price on shares of Power Co. of Canada from C$54.00 to C$58.00 in a report on Thursday, August 7th. Royal Bank Of Canada lowered shares of Power Co. of Canada from a "moderate buy" rating to a "hold" rating and upped their target price for the stock from C$57.00 to C$58.00 in a report on Monday, August 11th. TD Securities upped their target price on shares of 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. Desjardins increased their price objective on shares of Power Co. of Canada from C$55.00 to C$60.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, CIBC lowered 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 note on Thursday, May 22nd. Three research 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 company has an average rating of "Hold" and an average price target of C$59.25.

Power Co. of Canada Price Performance

The firm has a market capitalization of C$37.34 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.57 and a beta of 0.98. The firm's 50 day simple moving average is C$55.57 and its two-hundred day simple moving average is C$52.22.

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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