Great-West Lifeco (TSE:GWO - Get Free Report) had its target price upped by TD Securities from C$59.00 to C$66.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. TD Securities' price objective points to a potential upside of 13.68% from the stock's previous close.
GWO has been the subject of several other reports. BMO Capital Markets raised their price objective on Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Barclays lifted their price target on Great-West Lifeco from C$57.00 to C$58.00 and gave the company an "overweight" rating in a research report on Wednesday. Scotiabank lifted their price target on Great-West Lifeco from C$59.00 to C$61.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Desjardins lifted their price target on Great-West Lifeco from C$52.00 to C$55.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$57.22.
Read Our Latest Stock Report on GWO
Great-West Lifeco Stock Up 1.0%
Shares of TSE:GWO traded up C$0.56 during trading on Wednesday, hitting C$58.06. The stock had a trading volume of 342,975 shares, compared to its average volume of 2,719,275. Great-West Lifeco has a 12-month low of C$44.89 and a 12-month high of C$58.45. The stock has a market capitalization of C$53.69 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65. The stock has a 50-day simple moving average of C$54.37 and a two-hundred day simple moving average of C$52.93.
Great-West Lifeco declared that its board has authorized a share buyback program on Tuesday, August 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Great-West Lifeco Company Profile
(
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Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm's profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement.
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