Scotiabank Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its price target raised by Scotiabank from C$56.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 24.37% from the company’s previous close.

Other analysts also recently issued reports about the stock. TD Securities lifted their price target on shares of Power Co. of Canada from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Thursday. CIBC upgraded shares of Power Co. of Canada from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. Jefferies Financial Group lifted their price target on shares of Power Co. of Canada from C$54.00 to C$55.00 in a research note on Thursday. Desjardins raised their price objective on 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, Cibc World Mkts upgraded Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Power Co. of Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$54.13.

Power Co. of Canada Stock Down 0.9 %

TSE POW traded down C$0.44 during trading hours on Friday, reaching C$49.85. The company’s stock had a trading volume of 1,574,620 shares, compared to its average volume of 2,226,583. Power Co. of Canada has a 1 year low of C$35.83 and a 1 year high of C$50.79. The firm’s 50-day moving average price is C$46.51 and its 200-day moving average price is C$45.16. The company has a market capitalization of C$31.86 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.57 and a beta of 1.09.

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.