Power Co. of Canada (TSE:POW) Rating Lowered to “Hold” at Cibc World Mkts

Power Co. of Canada (TSE:POW) was downgraded by stock analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on POW. TD Securities increased their target price on shares of Power Co. of Canada from C$54.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank dropped their price objective on Power Co. of Canada from C$61.00 to C$57.00 and set an “outperform” rating for the company in a research note on Thursday. Cfra Research upgraded Power Co. of Canada to a “hold” rating in a research report on Thursday, March 20th. Desjardins upped their target price on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, National Bankshares raised their price target on Power Co. of Canada from C$50.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$54.13.

Power Co. of Canada Stock Performance

Shares of TSE POW opened at C$50.89 on Thursday. Power Co. of Canada has a one year low of C$36.08 and a one year high of C$52.31. The firm has a market capitalization of C$32.53 billion, a P/E ratio of 14.37, a PEG ratio of 0.57 and a beta of 1.09. The company’s fifty day moving average is C$50.36 and its two-hundred day moving average is C$47.56.

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.