Power Co. of Canada (TSE:POW) Hits New 52-Week High – Here’s What Happened

Power Co. of Canada (TSE:POW)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$50.99 and last traded at C$50.96, with a volume of 1686680 shares. The stock had previously closed at C$50.20.

Analyst Ratings Changes

Several equities analysts have weighed in on POW shares. CIBC raised Power Co. of Canada from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$48.00 to C$55.00 in a research note on Friday, February 7th. TD Securities boosted their price objective on shares of 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, March 20th. Desjardins increased their target price 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. Cibc World Mkts raised shares of 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 price target on Power Co. of Canada from C$54.00 to C$55.00 in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$54.13.

Power Co. of Canada Price Performance

The firm has a market cap of C$32.44 billion, a P/E ratio of 14.33, a PEG ratio of 0.57 and a beta of 1.09. The stock’s 50 day moving average is C$47.16 and its two-hundred day moving average is C$45.43.

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.