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

Power Co. of Canada (TSE:POW) had its price objective upped by investment analysts at Royal Bank Of Canada from C$58.00 to C$59.00 in a research report issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price target would indicate a potential downside of 4.25% from the stock’s current price.

A number of other research analysts have also recently issued reports on POW. Desjardins increased their target price on shares of Power Co. of Canada from C$55.00 to C$60.00 and gave the company a “buy” rating in a report on Monday, August 11th. TD Securities upped their price target on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Scotiabank raised their price objective on Power Co. of Canada from C$59.00 to C$65.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Jefferies Financial Group downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$57.00 to C$60.00 in a research report on Monday, August 11th. Finally, BMO Capital Markets upped their target price on Power Co. of Canada from C$54.00 to C$58.00 in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Power Co. of Canada presently has an average rating of “Hold” and an average price target of C$59.38.

Power Co. of Canada Stock Up 0.2%

Shares of POW opened at C$61.62 on Wednesday. Power Co. of Canada has a 52-week low of C$41.88 and a 52-week high of C$62.95. The company has a 50-day simple moving average of C$58.83 and a 200-day simple moving average of C$54.41. The company has a market capitalization of C$39.52 billion, a PE ratio of 14.81, a P/E/G ratio of 0.57 and a beta of 0.91.

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).