BMO Capital Markets Boosts Great-West Lifeco (TSE:GWO) Price Target to C$66.00

Great-West Lifeco (TSE:GWO) had its price target lifted by investment analysts at BMO Capital Markets from C$60.00 to C$66.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 9.98% from the company’s previous close.

Several other research firms have also weighed in on GWO. CIBC upped their price target on Great-West Lifeco from C$65.00 to C$67.00 in a research report on Friday. TD Securities upped their target price on Great-West Lifeco from C$66.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank increased their price target on shares of Great-West Lifeco from C$59.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on shares of Great-West Lifeco from C$53.00 to C$60.00 in a research report on Monday. Finally, Barclays increased their target price on shares of Great-West Lifeco from C$58.00 to C$59.00 in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$62.11.

Great-West Lifeco Price Performance

TSE GWO traded up C$0.11 on Monday, hitting C$60.01. 402,605 shares of the stock were exchanged, compared to its average volume of 2,570,603. The company’s 50-day moving average price is C$56.75 and its two-hundred day moving average price is C$53.78. Great-West Lifeco has a 52-week low of C$44.89 and a 52-week high of C$61.39. The company has a market capitalization of C$55.23 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 2.26 and a beta of 0.63.

Great-West Lifeco announced that its board has initiated a stock buyback program on Tuesday, August 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Great-West Lifeco Company Profile

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.