Power Co. of Canada (TSE:POW) Stock Price Expected to Rise, Scotiabank Analyst Says

Power Co. of Canada (TSE:POW) had its target price raised by Scotiabank from C$56.00 to C$62.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

POW has been the subject of a number of other research reports. National Bankshares raised their price objective on Power Co. of Canada from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Thursday. BMO Capital Markets raised their target price on Power Co. of Canada from C$49.00 to C$52.00 in a research report on Friday, March 14th. Cibc World Mkts raised shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Desjardins raised their price objective on shares of Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price target on shares of Power Co. of Canada from C$54.00 to C$55.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Power Co. of Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$54.13.

Power Co. of Canada Stock Performance

TSE:POW opened at C$49.94 on Friday. The stock’s 50-day moving average is C$46.65. The company has a market cap of C$31.92 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a 52-week low of C$35.83 and a 52-week high of C$50.79.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.