Desjardins Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price

Power Co. of Canada (TSE:POW) had its target price raised by Desjardins from C$75.00 to C$78.00 in a report published on Tuesday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the financial services provider’s stock.

POW has been the subject of a number of other research reports. National Bankshares lifted their target price on 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 boosted their target price on Power Co. of Canada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. TD Securities downgraded shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Jefferies Financial Group boosted their price objective on shares of Power Co. of Canada from C$60.00 to C$68.00 in a report on Friday, November 14th. Finally, CIBC set a C$75.00 price objective on shares of Power Co. of Canada and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$71.25.

Power Co. of Canada Stock Performance

TSE:POW opened at C$68.04 on Tuesday. The firm has a market cap of C$43.35 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.57 and a beta of 0.75. Power Co. of Canada has a fifty-two week low of C$43.32 and a fifty-two week high of C$74.91. The firm has a 50-day simple moving average of C$71.82 and a two-hundred day simple moving average of C$64.61.

Power Co. of Canada (TSE:POW) last issued its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share (EPS) for the quarter. The firm had revenue of C$9.89 billion for the quarter. Power Co. of Canada had a net margin of 4.45% and a return on equity of 10.06%. On average, equities research analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

Power Co. of Canada Company Profile

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.