Power Co. of Canada (TSE:POW) Stock Rating Lowered by Royal Bank Of Canada

Power Co. of Canada (TSE:POW) was downgraded by investment analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” 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 previous price objective of C$57.00. Royal Bank Of Canada’s target price would indicate a potential upside of 2.49% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. TD Securities boosted their price objective on Power Co. of Canada from C$56.00 to C$62.00 and gave the company a “buy” rating in a report on Monday. Scotiabank boosted their price objective on Power Co. of Canada from C$59.00 to C$65.00 and gave the company an “outperform” rating in a report on Monday. CIBC cut Power Co. of Canada from an “outperform” rating to a “neutral” rating and set a C$55.00 price objective for the company. in a report on Thursday, May 22nd. Desjardins boosted 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 report on Monday. Finally, Cibc World Mkts cut Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$59.25.

Power Co. of Canada Stock Performance

Shares of Power Co. of Canada stock opened at C$56.59 on Monday. 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 stock has a 50 day moving average price of C$53.99 and a 200-day moving average price of C$50.93. Power Co. of Canada has a one year low of C$37.81 and a one year high of C$59.00.

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).