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

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

Several other brokerages have also issued reports on POW. 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. CIBC raised Power Co. of Canada from a “neutral” rating to an “outperform” rating and boosted their target price for the company from C$48.00 to C$55.00 in a research note on Friday, February 7th. National Bankshares boosted their target price on Power Co. of Canada from C$50.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday. Cibc World Mkts raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on Power Co. of Canada from C$52.00 to C$54.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Three 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. According to MarketBeat.com, Power Co. of Canada has an average rating of “Moderate Buy” and an average target price of C$52.31.

Power Co. of Canada Price Performance

POW stock traded up C$0.56 during mid-day trading on Thursday, hitting C$49.83. 521,343 shares of the stock were exchanged, compared to its average volume of 2,216,890. The business has a fifty day moving average price of C$46.37 and a 200 day moving average price of C$45.09. Power Co. of Canada has a 12 month low of C$35.83 and a 12 month high of C$50.79. The stock has a market capitalization of C$31.85 billion, a price-to-earnings ratio of 14.07, a PEG 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.