Scotiabank Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price

Power Co. of Canada (TSE:POW) had its target price lifted by stock analysts at Scotiabank from C$76.00 to C$78.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would suggest a potential upside of 18.87% from the stock’s previous close.

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

Power Co. of Canada Trading Down 0.1%

Shares of POW traded down C$0.06 during trading hours on Thursday, hitting C$65.62. 560,010 shares of the stock traded hands, compared to its average volume of 2,090,780. The business has a fifty day moving average of C$70.45 and a 200-day moving average of C$65.29. The firm has a market capitalization of C$41.80 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.57 and a beta of 0.75. Power Co. of Canada has a 1-year low of C$47.05 and a 1-year high of C$74.91.

Power Co. of Canada (TSE:POW) last issued 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 net margin of 4.45% and a return on equity of 10.06%. The company had revenue of C$9.89 billion for the quarter. As a group, equities research analysts expect that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal year.

About Power Co. of Canada

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.