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

Power Co. of Canada (TSE:POW) had its price objective raised by analysts at TD Securities from C$53.00 to C$54.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would indicate a potential upside of 8.37% from the company’s previous close.

Several other analysts also recently weighed in on the company. BMO Capital Markets upped their price objective on Power Co. of Canada from C$49.00 to C$52.00 in a research report on Friday, March 14th. Cibc World Mkts upgraded Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. National Bankshares raised their target price on Power Co. of Canada from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on Power Co. of Canada from C$52.00 to C$54.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Desjardins lifted their price target on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.31.

Power Co. of Canada Price Performance

TSE POW traded up C$0.56 on Thursday, reaching C$49.83. The stock had a trading volume of 521,343 shares, compared to its average volume of 2,216,890. The firm has a fifty day moving average of C$46.37 and a two-hundred day moving average of C$45.09. Power Co. of Canada has a 1-year low of C$35.83 and a 1-year high of C$50.79. The company has a market cap of C$31.85 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Power Co. of Canada Company Profile

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.