Scotiabank Boosts Power Co. of Canada (TSE:POW) Price Target to C$62.00

Power Co. of Canada (TSE:POW) had its target price boosted by research analysts at Scotiabank from C$56.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s target price suggests a potential upside of 24.15% from the company’s current price.

Other research analysts have also recently issued reports about the company. CIBC upgraded Power Co. of Canada from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. TD Securities lifted their price target on Power Co. of Canada from C$53.00 to C$54.00 and gave the company a “buy” rating in a research report on Thursday. National Bankshares boosted their price objective on Power Co. of Canada from C$50.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Thursday. BMO Capital Markets lifted their price target on Power Co. of Canada from C$49.00 to C$52.00 in a research note on Friday, March 14th. Finally, Desjardins lifted their price target on Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Three investment 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 MarketBeat.com, Power Co. of Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$54.13.

Power Co. of Canada Price Performance

TSE POW opened at C$49.94 on Friday. 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$31.92 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.57 and a beta of 1.09. The stock’s fifty day moving average price is C$46.65 and its 200 day moving average price is C$45.26.

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.