Power Co. of Canada (TSE:POW) Sets New 1-Year High Following Analyst Upgrade

Power Co. of Canada (TSE:POW)’s stock price reached a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from C$73.00 to C$90.00. The company traded as high as C$80.18 and last traded at C$80.18, with a volume of 349376 shares trading hands. The stock had previously closed at C$78.44.

POW has been the subject of several other research reports. Royal Bank Of Canada raised their price target on shares of Power Co. of Canada from C$73.00 to C$86.00 and gave the company an “outperform” rating in a research report on Thursday. National Bank Financial upped their price objective on Power Co. of Canada from C$77.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Wednesday. TD Securities raised Power Co. of Canada from a “hold” rating to a “buy” rating and set a C$74.00 target price for the company in a report on Friday, March 20th. Scotiabank boosted their price target 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, TD cut Power Co. of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$74.00 to C$84.00 in a research report on Thursday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$83.10.

Key Headlines Impacting Power Co. of Canada

Here are the key news stories impacting Power Co. of Canada this week:

• Positive Sentiment: Jefferies raised its price target on Power Co. of Canada to C$90 from C$73, implying meaningful upside and signaling stronger confidence in the company’s outlook. Jefferies price target increase
• Positive Sentiment: Scotia increased its target to C$90 from C$79 and kept a “sector outperform” rating, adding to the bullish analyst momentum. Scotia price target increase
• Positive Sentiment: Desjardins lifted its target to C$87 from C$81 and reiterated a “buy” rating, indicating analysts see room for further gains. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada raised its target to C$86 from C$73 and maintained an “outperform” view, broadening the positive analyst coverage. RBC price target increase
• Positive Sentiment: National Bank Financial also increased its target to C$85, reinforcing the view that expectations for Power Co. of Canada remain improving. National Bank Financial target increase
• Neutral Sentiment: TD downgraded the stock from “buy” to “hold,” but still raised its target to C$84 from C$74, so the call was less negative than the rating change suggests. TD rating change
• Neutral Sentiment: Recent earnings call transcripts and preferred share dividend announcements may be drawing attention to the name, but they are not the main driver of the share move. Earnings call transcript

Power Co. of Canada Price Performance

The firm has a fifty day moving average price of C$70.60 and a two-hundred day moving average price of C$69.95. The stock has a market capitalization of C$51.08 billion, a P/E ratio of 20.49, a PEG ratio of 0.57 and a beta of 0.71. The company has a debt-to-equity ratio of 105.91, a quick ratio of 107.64 and a current ratio of 1.44.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings data on Tuesday, May 12th. The financial services provider reported C$1.43 EPS for the quarter. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%.The company had revenue of C$10.96 billion during the quarter. As a group, analysts expect that Power Co. of Canada will post 4.9289678 EPS 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.