Royal Bank Of Canada Upgrades Power Co. of Canada (TSE:POW) to Outperform

Key Points

• Royal Bank of Canada upgraded Power Co. of Canada (TSE:POW) from "sector perform" to "outperform" and raised its price target to C$73, implying roughly a 12.05% upside from the prior close.
• The stock has a consensus rating of Moderate Buy with a consensus price target of C$75.38; four analysts rate it Buy and three rate it Hold, and several brokerages have recently lifted their targets.
• Shares traded up to C$65.15 on Friday; Power Co. has a market cap of C$41.31B, a P/E of 13.74, reported quarterly EPS of C$1.36 on C$8.84B revenue, and a 52‑week range of C$47.05–C$74.91.

Power Co. of Canada (TSE:POW - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a C$73.00 price objective on the financial services provider's stock, up from their previous price objective of C$69.00. Royal Bank Of Canada's price target indicates a potential upside of 12.05% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Desjardins lifted their price objective on shares of Power Co. of Canada from C$78.00 to C$79.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. TD Securities upped their target price on Power Co. of Canada from C$73.00 to C$74.00 and gave the company a "hold" rating in a research report on Friday, March 13th. Scotiabank raised their target price on Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an "outperform" rating in a research note on Thursday, February 19th. Finally, National Bank Financial lifted their price target on Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$75.38.

Power Co. of Canada Stock Up 2.1%

TSE POW traded up C$1.32 on Friday, hitting C$65.15. The stock had a trading volume of 1,735,934 shares, compared to its average volume of 2,176,090. The business's fifty day moving average price is C$67.71 and its 200 day moving average price is C$66.58. The stock has a market cap of C$41.31 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The company has a debt-to-equity ratio of 84.71, a current ratio of 3.95 and a quick ratio of 107.64. Power Co. of Canada has a 52-week low of C$47.05 and a 52-week high of C$74.91.

Power Co. of Canada (TSE:POW - Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The financial services provider reported C$1.36 EPS for the quarter. Power Co. of Canada had a return on equity of 12.83% and a net margin of 9.73%.The firm had revenue of C$8.84 billion during the quarter. Equities research analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

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). Power Corp. bought out the remaining shares of Power Financial in February 2020.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.