BMO Capital Markets Raises Great-West Lifeco (TSE:GWO) Price Target to C$66.00

Great-West Lifeco (TSE:GWO) had its target price boosted by investment analysts at BMO Capital Markets from C$60.00 to C$66.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 8.36% from the company’s previous close.

A number of other research firms also recently weighed in on GWO. National Bankshares raised their price target on shares of Great-West Lifeco from C$58.00 to C$59.00 in a research note on Thursday, November 6th. Scotiabank increased 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. Desjardins raised their target price on shares of Great-West Lifeco from C$55.00 to C$60.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. TD Securities boosted their target price on shares of Great-West Lifeco from C$66.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, CIBC increased their price target on Great-West Lifeco from C$65.00 to C$67.00 in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$62.11.

Great-West Lifeco Trading Up 1.5%

TSE GWO opened at C$60.91 on Monday. The firm’s 50 day simple moving average is C$56.99 and its 200 day simple moving average is C$53.88. The firm has a market capitalization of C$56.06 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 2.26 and a beta of 0.63. Great-West Lifeco has a 1 year low of C$44.89 and a 1 year high of C$61.39.

Great-West Lifeco announced that its board has approved a share repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is 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.