Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its price target increased by analysts at Canadian Imperial Bank of Commerce from C$75.00 to C$78.00 in a report released on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 19.72% from the stock’s previous close.

A number of other analysts also recently commented on the company. Jefferies Financial Group boosted their price objective on Power Co. of Canada from C$68.00 to C$73.00 in a research note on Friday. Royal Bank Of Canada raised shares of Power Co. of Canada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$69.00 to C$73.00 in a report on Friday. TD Securities raised shares of Power Co. of Canada from a “hold” rating to a “buy” rating and set a C$74.00 price objective on the stock in a research note on Friday. Scotiabank boosted their target price on shares of Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. Finally, National Bank Financial raised their target price on shares of Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$75.38.

Power Co. of Canada Price Performance

POW stock traded up C$1.32 during trading on Friday, hitting C$65.15. The company had a trading volume of 1,735,934 shares, compared to its average volume of 2,176,090. The business has a 50 day moving average of C$67.71 and a 200 day moving average of C$66.58. The firm has a market capitalization of C$41.31 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.57 and a beta of 0.72. The company has a current ratio of 3.95, a quick ratio of 107.64 and a debt-to-equity ratio of 84.71. Power Co. of Canada has a fifty-two week low of C$47.05 and a fifty-two week high of C$74.91.

Power Co. of Canada (TSE:POW) last released its quarterly earnings results on Wednesday, March 18th. The financial services provider reported C$1.36 EPS for the quarter. The company had revenue of C$8.84 billion for the quarter. Power Co. of Canada had a net margin of 9.73% and a return on equity of 12.83%. As a group, research analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

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.