Power Co. of Canada (TSE:POW) Rating Lowered to Hold at Royal Bank Of Canada

Power Co. of Canada (TSE:POW) was downgraded by Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a C$58.00 target price on the financial services provider’s stock, up from their previous target price of C$57.00. Royal Bank Of Canada’s price objective suggests a potential upside of 2.49% from the company’s current price.

A number of other analysts have also weighed in on the stock. National Bankshares upped their price target on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 29th. Desjardins upped their price target on shares of Power Co. of Canada from C$55.00 to C$60.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating and upped their price target for the stock from C$57.00 to C$60.00 in a research note on Monday. Scotiabank upped their price target on shares of Power Co. of Canada from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Cibc World Mkts downgraded shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$59.25.

Power Co. of Canada Trading Down 0.8%

Shares of TSE:POW opened at C$56.59 on Monday. The company has a 50 day moving average of C$53.99 and a 200-day moving average of C$50.93. The firm has a market cap of C$36.17 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a twelve month low of C$37.81 and a twelve month high of C$59.00.

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).