Power Co. of Canada (TSE:POW) Lowered to Hold Rating by TD Securities

TD Securities downgraded shares of Power Co. of Canada (TSE:POW) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Several other analysts also recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Power Co. of Canada from C$73.00 to C$86.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets raised their target price on shares of Power Co. of Canada from C$69.00 to C$79.00 and gave the stock a “market perform” rating in a report on Tuesday. National Bank Financial upped their price target on shares of Power Co. of Canada from C$77.00 to C$85.00 and gave the company a “sector perform” rating in a report on Wednesday. Canadian Imperial Bank of Commerce increased their price target on Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a “hold” rating in a research report on Friday, March 20th. Finally, TD lowered Power Co. of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$74.00 to C$84.00 in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$83.10.

Power Co. of Canada Trading Up 1.9%

Shares of TSE:POW opened at C$80.72 on Thursday. The company has a quick ratio of 107.64, a current ratio of 1.44 and a debt-to-equity ratio of 105.91. Power Co. of Canada has a 52-week low of C$49.10 and a 52-week high of C$80.85. The stock has a market cap of C$50.87 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 0.57 and a beta of 0.71. The business has a 50-day moving average price of C$70.60 and a 200-day moving average price of C$69.95.

Power Co. of Canada (TSE:POW) last issued its earnings results 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 firm had revenue of C$10.96 billion for the quarter. Equities analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

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 (POW) to C$90 from C$73, implying further upside and reinforcing a bullish view on the stock. Power Co. of Canada (TSE:POW) Given New C$90.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Scotia increased its target to C$90 from C$79 and kept a Sector Outperform rating, signaling confidence in Power Co. of Canada’s outlook. Scotia Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price
• Positive Sentiment: Desjardins lifted its target to C$87 from C$81 and maintained a Buy rating, adding to the wave of bullish analyst revisions for POW. Desjardins Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price
• Positive Sentiment: Royal Bank of Canada raised its target to C$86 from C$73 and reiterated an Outperform rating, supporting the stock’s recent strength. Power Co. of Canada (TSE:POW) Price Target Raised to C$86.00 at Royal Bank Of Canada
• Neutral Sentiment: National Bank Financial also raised its target to C$85 from C$77 with a Sector Perform rating, which is supportive but less bullish than the top-tier upgrades. Power Co. of Canada (TSE:POW) Given New C$85.00 Price Target at National Bank Financial
• Negative Sentiment: TD downgraded Power Co. of Canada (POW) from Buy to Hold, which may temper some of the optimism despite TD still raising its target to C$84. Power Co. of Canada (TSE:POW) Downgraded by TD to Hold

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.