TD Securities Boosts Power Co. of Canada (TSE:POW) Price Target to C$74.00

Power Co. of Canada (TSE:POW) had its price target raised by TD Securities from C$73.00 to C$74.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Securities’ price objective suggests a potential upside of 11.85% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Scotiabank increased their price target on shares of Power Co. of Canada from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Jefferies Financial Group upped their target price on shares of Power Co. of Canada from C$60.00 to C$68.00 in a report on Friday, November 14th. Canadian Imperial Bank of Commerce set a C$75.00 target price on shares of Power Co. of Canada and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Desjardins lifted their price target on Power Co. of Canada from C$78.00 to C$79.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, National Bank Financial boosted their price target on Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Power Co. of Canada currently has a consensus rating of “Hold” and a consensus price target of C$73.88.

Power Co. of Canada Stock Up 2.4%

Shares of TSE POW traded up C$1.52 during trading hours on Friday, hitting C$66.16. The company had a trading volume of 418,137 shares, compared to its average volume of 2,129,338. Power Co. of Canada has a 1-year low of C$47.05 and a 1-year high of C$74.91. The company has a quick ratio of 107.64, a current ratio of 3.95 and a debt-to-equity ratio of 84.71. The firm’s 50 day moving average is C$68.42 and its 200-day moving average is C$66.30. The stock has a market capitalization of C$41.95 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72.

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.