CIBC Increases Great-West Lifeco (TSE:GWO) Price Target to C$65.00

Great-West Lifeco (TSE:GWO) had its price target boosted by stock analysts at CIBC from C$57.00 to C$65.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 9.32% from the company’s current price.

GWO has been the topic of several other research reports. UBS Group upgraded shares of Great-West Lifeco to a “strong-buy” rating in a research note on Thursday, October 16th. Scotiabank upped their price objective on shares of Great-West Lifeco from C$59.00 to C$61.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. TD Securities upped their price objective on shares of Great-West Lifeco from C$59.00 to C$66.00 in a research note on Wednesday, October 8th. Desjardins upped their price objective on shares of Great-West Lifeco from C$55.00 to C$60.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, National Bankshares increased their price target on shares of Great-West Lifeco from C$52.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Great-West Lifeco has an average rating of “Moderate Buy” and an average target price of C$59.33.

Great-West Lifeco Stock Performance

Great-West Lifeco stock opened at C$59.46 on Thursday. The firm has a market cap of C$55.39 billion, a PE ratio of 14.90, a P/E/G ratio of 2.26 and a beta of 0.65. The firm’s 50 day moving average price is C$56.24 and its two-hundred day moving average price is C$53.50. Great-West Lifeco has a twelve month low of C$44.89 and a twelve month high of C$59.71.

Great-West Lifeco announced that its board has initiated a stock buyback program on Tuesday, August 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Great-West Lifeco Company Profile

Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm’s profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement.