Scotiabank Raises Power Co. of Canada (TSE:POW) Price Target to C$78.00

Power Co. of Canada (TSE:POW) had its price objective lifted by equities research analysts at Scotiabank from C$76.00 to C$78.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s target price indicates a potential upside of 18.20% from the company’s current price.

Several other research analysts also recently commented on the stock. National Bank Financial raised their price target on shares of Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce set a C$75.00 target price on shares of Power Co. of Canada and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Desjardins lifted their price target on shares of Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada boosted their price target on Power Co. of Canada from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Finally, TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$73.13.

Power Co. of Canada Stock Performance

Shares of POW stock opened at C$65.99 on Thursday. Power Co. of Canada has a 52-week low of C$47.05 and a 52-week high of C$74.91. The firm has a market capitalization of C$42.04 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.57 and a beta of 0.75. The stock has a 50 day moving average price of C$70.17 and a 200 day moving average price of C$65.36.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%.The company had revenue of C$9.89 billion for the quarter. As a group, sell-side analysts forecast that Power Co. of Canada will post 4.9289678 EPS for the current year.

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). Power Corp. bought out the remaining shares of Power Financial in February 2020.