Power Co. of Canada (TSE:POW) Lowered to Sector Perform 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 research analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report issued on Monday, MarketBeat.com reports. They presently have a C$58.00 target price on the financial services provider's stock, up from their previous target price of C$57.00. Royal Bank Of Canada's price objective points to a potential upside of 1.65% from the company's previous close.

A number of other equities analysts have also recently commented on the company. Cibc World Mkts cut Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank lifted 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 note on Monday. National Bankshares lifted their price target on 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. TD Securities lifted their price target on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock a "buy" rating in a research note on Monday. Finally, CIBC cut Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price target on the stock. in a research note on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Price Performance

Shares of Power Co. of Canada stock opened at C$57.06 on Monday. The business's 50 day simple moving average is C$53.90 and its two-hundred day simple moving average is C$50.89. The stock has a market capitalization of C$36.47 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a one year low of C$37.56 and a one year high of C$59.00.

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).