Power Co. of Canada (TSE:POW) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Power Co. of Canada stock recently surpassed its 200-day moving average, trading at C$56.82 with a significant volume of 1,849,248 shares.
• Multiple analysts have provided mixed ratings, with four analysts issuing a buy rating and four giving a hold rating, while the average target price is C$55.75.
• The company's market capitalization stands at C$36.32 billion, with a P/E ratio of 16.04, suggesting a moderate valuation in the financial services sector.

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$50.45 and traded as high as C$56.93. Power Co. of Canada shares last traded at C$56.82, with a volume of 1,849,248 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on POW. TD Securities boosted their target price 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. Scotiabank boosted their target price on shares of Power Co. of Canada from C$57.00 to C$59.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group upped their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 in a research report on Monday, April 21st. National Bankshares increased their price objective on Power Co. of Canada from C$55.00 to C$56.00 and gave the company a "sector perform" rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada upgraded 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Power Co. of Canada presently has a consensus rating of "Moderate Buy" and an average target price of C$56.25.

Power Co. of Canada Stock Performance

The stock has a market cap of C$36.17 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The business's fifty day simple moving average is C$53.70 and its 200 day simple moving average is C$50.76.

Power Co. of Canada Company Profile

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).