BMO Capital Markets Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its target price lifted by research analysts at BMO Capital Markets from C$60.00 to C$71.00 in a research note issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 0.71% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating and lifted their target price for the company from C$57.00 to C$60.00 in a research note on Monday, August 11th. TD Securities raised their price target on Power Co. of Canada from C$62.00 to C$69.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. National Bankshares boosted their price objective on shares of Power Co. of Canada from C$58.00 to C$64.00 and gave the stock a “sector perform” rating in a report on Monday, October 27th. Royal Bank Of Canada upped their price objective on Power Co. of Canada from C$59.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. Finally, Desjardins increased their target price on Power Co. of Canada from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. 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, the company currently has a consensus rating of “Hold” and an average target price of C$65.00.

Power Co. of Canada Stock Performance

TSE POW opened at C$70.50 on Wednesday. The stock has a market cap of C$45.21 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.57 and a beta of 0.86. Power Co. of Canada has a fifty-two week low of C$41.88 and a fifty-two week high of C$71.97. The stock has a 50 day simple moving average of C$61.88 and a two-hundred day simple moving average of C$56.59.

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).