Power Co. of Canada (TSE:POW) Given New C$78.00 Price Target at Scotiabank

Power Co. of Canada (TSE:POW) had its price objective raised by equities researchers at Scotiabank from C$76.00 to C$78.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective points to a potential upside of 18.87% from the stock’s previous close.

Several other brokerages have also commented on POW. Canadian Imperial Bank of Commerce set a C$75.00 target price on shares of Power Co. of Canada and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Jefferies Financial Group increased their target price on shares of Power Co. of Canada from C$60.00 to C$68.00 in a report on Friday, November 14th. TD Securities lowered Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. National Bank Financial raised their price objective on Power Co. of Canada from C$69.00 to C$77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 4th. Finally, BMO Capital Markets lifted their price objective on Power Co. of Canada from C$60.00 to C$71.00 in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$73.13.

Power Co. of Canada Price Performance

Shares of TSE:POW traded down C$0.06 on Thursday, reaching C$65.62. The company’s stock had a trading volume of 560,010 shares, compared to its average volume of 2,090,780. Power Co. of Canada has a 52-week low of C$47.05 and a 52-week high of C$74.91. The stock has a market capitalization of C$41.80 billion, a P/E ratio of 13.84, a PEG ratio of 0.57 and a beta of 0.75. The stock’s 50-day moving average is C$70.45 and its two-hundred day moving average is C$65.29.

Power Co. of Canada (TSE:POW) last released its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share (EPS) for the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%.The business had revenue of C$9.89 billion for the quarter. Equities analysts forecast that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal year.

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