Power Co. of Canada (TSE:POW) Reaches New 52-Week High – Should You Buy?

Power Co. of Canada (TSE:POW)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$51.75 and last traded at C$51.72, with a volume of 355487 shares traded. The stock had previously closed at C$50.88.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. CIBC upgraded shares of Power Co. of Canada from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. BMO Capital Markets lifted their price objective on Power Co. of Canada from C$49.00 to C$52.00 in a research report on Friday, March 14th. National Bankshares increased their target price on shares of Power Co. of Canada from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Thursday, March 20th. Jefferies Financial Group lifted their price target on shares of Power Co. of Canada from C$54.00 to C$55.00 in a report on Thursday, March 20th. Finally, Desjardins upped their price target 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 Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Power Co. of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$54.13.

Power Co. of Canada Price Performance

The company’s 50-day simple moving average is C$47.64 and its 200 day simple moving average is C$45.66. The firm has a market cap of C$32.88 billion, a P/E ratio of 14.52, 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.