Power Co. of Canada (TSE:POW) Given New C$78.00 Price Target at Desjardins

Power Co. of Canada (TSE:POW) had its price objective increased by analysts at Desjardins from C$75.00 to C$78.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ target price would suggest a potential upside of 14.40% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Royal Bank Of Canada boosted their price objective 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. BMO Capital Markets increased their price target on shares of Power Co. of Canada from C$60.00 to C$71.00 in a report on Wednesday, November 12th. CIBC set a C$75.00 price objective on shares of Power Co. of Canada and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Scotiabank increased their target price on shares of Power Co. of Canada from C$69.00 to C$76.00 in a research note on Thursday, November 13th. Finally, TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$71.25.

Power Co. of Canada Stock Down 1.4%

Shares of POW traded down C$1.00 during mid-day trading on Tuesday, hitting C$68.18. 604,728 shares of the company’s stock were exchanged, compared to its average volume of 1,973,252. The stock has a market cap of C$43.43 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.57 and a beta of 0.93. Power Co. of Canada has a twelve month low of C$43.32 and a twelve month high of C$74.91. The firm has a fifty day moving average of C$71.90 and a two-hundred day moving average of C$64.52.

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

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.