Power Co. of Canada (TSE:POW) Downgraded to Hold Rating by Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has downgraded Power Co. of Canada from an "outperform" rating to a "sector perform" rating, with a revised price objective of C$58.00, indicating a potential upside of 2.46%.
• Other analysts have varying ratings on Power Co. of Canada, with Cibc World Mkts lowering their recommendation to "hold," while TD Securities raised their price target to C$62.00 with a "buy" rating.
• The stock has recently traded down 1.7%, reaching C$56.61, and currently has an average rating of "Hold" with a consensus price target of C$59.25.

Power Co. of Canada (TSE:POW - Get Free Report) was downgraded by equities researchers at Royal Bank Of Canada from a "moderate buy" rating to a "hold" rating in a research note issued on Monday, Marketbeat.com reports. They currently have a C$58.00 price objective on the financial services provider's stock, up from their prior price objective of C$57.00. Royal Bank Of Canada's price objective points to a potential upside of 1.01% from the company's current price.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Power Co. of Canada from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from C$57.00 to C$60.00 in a report on Monday. National Bankshares lifted their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 29th. Cibc World Mkts lowered Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. 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. Finally, CIBC lowered Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 target price for the company. in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$59.25.

Power Co. of Canada Stock Performance

Power Co. of Canada stock traded up C$0.14 during midday trading on Monday, reaching C$57.42. 1,040,122 shares of the company were exchanged, compared to its average volume of 2,460,140. The firm's 50-day simple moving average is C$54.21 and its 200-day simple moving average is C$51.12. Power Co. of Canada has a 1 year low of C$38.63 and a 1 year high of C$59.00. The company has a market capitalization of C$36.70 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.57 and a beta of 1.09.

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).