Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its target price upped by stock analysts at Canadian Imperial Bank of Commerce from C$75.00 to C$78.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 20.22% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. National Bank Financial increased their target price on 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. Jefferies Financial Group upped their price objective on Power Co. of Canada from C$68.00 to C$73.00 in a report on Friday. Royal Bank Of Canada upgraded Power Co. of Canada from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$69.00 to C$73.00 in a research report on Friday. TD Securities raised Power Co. of Canada from a “hold” rating to a “buy” rating and set a C$74.00 target price for the company in a report on Friday. Finally, Desjardins boosted their target price on shares of Power Co. of Canada from C$78.00 to C$79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$75.38.

Power Co. of Canada Trading Up 1.6%

Shares of Power Co. of Canada stock opened at C$64.88 on Friday. The firm has a market cap of C$41.14 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. Power Co. of Canada has a 52-week low of C$47.05 and a 52-week high of C$74.91. The company’s 50-day simple moving average is C$67.56 and its 200-day simple moving average is C$66.69. The company has a quick ratio of 107.64, a current ratio of 3.95 and a debt-to-equity ratio of 84.71.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings data on Wednesday, March 18th. The financial services provider reported C$1.36 EPS for the quarter. Power Co. of Canada had a net margin of 9.73% and a return on equity of 12.83%. The firm had revenue of C$8.84 billion during the quarter. As a group, equities research analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

More Power Co. of Canada News

Here are the key news stories impacting Power Co. of Canada this week:

• Positive Sentiment: TD Securities upgraded POW from “hold” to “buy” and raised its target to C$74, signalling stronger conviction from a major dealer. TD Securities Upgrade
• Positive Sentiment: Royal Bank of Canada upgraded POW to “outperform” and lifted its target to C$73, reflecting improved fundamentals or outlook from another large bank. RBC Upgrade
• Positive Sentiment: Jefferies raised its price target on POW to C$73, adding more upward pressure from the sell-side community. Jefferies Price Target Raise
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$78, the highest among recent revisions, suggesting meaningful upside in analysts’ view. CIBC Price Target Raise
• Positive Sentiment: POW reported quarterly results showing C$1.36 EPS, a 12.8% return on equity and C$8.84B revenue — solid profitability metrics that likely supported the analyst optimism. Earnings Press Release
• Positive Sentiment: The company declared a CAD 0.6675 dividend, reinforcing income appeal for investors and supporting demand for the stock. Dividend Announcement

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.