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

Power Co. of Canada (TSE:POW) had its price target increased by equities research analysts at CIBC from C$45.00 to C$51.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 14.02% from the stock’s previous close.

Several other research firms have also weighed in on POW. Jefferies Financial Group lowered their target price on shares of Power Co. of Canada from C$45.00 to C$44.00 in a report on Friday, August 2nd. BMO Capital Markets upped their price objective on shares of Power Co. of Canada from C$42.00 to C$49.00 in a research note on Tuesday. National Bankshares lifted their target price on shares of Power Co. of Canada from C$42.00 to C$47.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Desjardins increased their price target on Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, TD Securities upgraded shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Power Co. of Canada has a consensus rating of “Moderate Buy” and an average target price of C$45.83.

Power Co. of Canada Price Performance

POW traded down C$2.14 during midday trading on Wednesday, reaching C$44.73. 1,076,662 shares of the company’s stock were exchanged, compared to its average volume of 2,935,371. The company has a quick ratio of 107.64, a current ratio of 91.78 and a debt-to-equity ratio of 48.53. The business has a 50-day simple moving average of C$43.42 and a two-hundred day simple moving average of C$40.42. The firm has a market capitalization of C$26.50 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Power Co. of Canada has a one year low of C$34.53 and a one year high of C$47.18.

Power Co. of Canada (TSE:POW) last posted its earnings results on Tuesday, November 12th. The financial services provider reported C$0.82 EPS for the quarter, missing the consensus estimate of C$1.14 by C($0.32). Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The company had revenue of C$5.29 billion for the quarter. As a group, research analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

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.