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

Power Co. of Canada (TSE:POW) had its target price hoisted by equities researchers at Desjardins from C$49.00 to C$53.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. Desjardins’ target price suggests a potential upside of 6.26% from the company’s current price.

POW has been the subject of a number of other research reports. CIBC upgraded shares of Power Co. of Canada from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$48.00 to C$55.00 in a research report on Friday, February 7th. Cibc World Mkts raised shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. TD Securities increased their price objective on shares of Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Power Co. of Canada from C$42.00 to C$49.00 in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group boosted their price target on Power Co. of Canada from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$50.69.

Power Co. of Canada Trading Up 1.2 %

Shares of Power Co. of Canada stock traded up C$0.61 on Tuesday, hitting C$49.88. The stock had a trading volume of 1,170,937 shares, compared to its average volume of 2,038,734. Power Co. of Canada has a 52-week low of C$35.83 and a 52-week high of C$49.95. The business has a 50 day moving average price of C$45.24. The firm has a market cap of C$31.88 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.