Power Co. of Canada (TSE:POW) Hits New 1-Year High on Analyst Upgrade

Power Co. of Canada (TSE:POW)’s share price hit a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from C$73.00 to C$90.00. The stock traded as high as C$80.18 and last traded at C$80.18, with a volume of 349376 shares. The stock had previously closed at C$78.44.

Several other research analysts also recently weighed in on POW. TD downgraded shares of Power Co. of Canada from a “buy” rating to a “hold” rating and upped their target price for the stock from C$74.00 to C$84.00 in a report on Thursday. 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 for the company in a report on Friday, March 20th. Scotiabank increased their price objective on shares of Power Co. of Canada from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Thursday, February 19th. BMO Capital Markets increased their price objective on shares of Power Co. of Canada from C$69.00 to C$79.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, National Bank Financial increased their price objective on shares of Power Co. of Canada from C$77.00 to C$85.00 and gave the company a “sector perform” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$83.10.

Power Co. of Canada News Summary

Here are the key news stories impacting Power Co. of Canada this week:

• Positive Sentiment: Jefferies raised its price target on Power Co. of Canada to C$90 from C$73, implying meaningful upside and signaling stronger confidence in the company’s outlook. Jefferies price target increase
• Positive Sentiment: Scotia increased its target to C$90 from C$79 and kept a “sector outperform” rating, adding to the bullish analyst momentum. Scotia price target increase
• Positive Sentiment: Desjardins lifted its target to C$87 from C$81 and reiterated a “buy” rating, indicating analysts see room for further gains. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada raised its target to C$86 from C$73 and maintained an “outperform” view, broadening the positive analyst coverage. RBC price target increase
• Positive Sentiment: National Bank Financial also increased its target to C$85, reinforcing the view that expectations for Power Co. of Canada remain improving. National Bank Financial target increase
• Neutral Sentiment: TD downgraded the stock from “buy” to “hold,” but still raised its target to C$84 from C$74, so the call was less negative than the rating change suggests. TD rating change
• Neutral Sentiment: Recent earnings call transcripts and preferred share dividend announcements may be drawing attention to the name, but they are not the main driver of the share move. Earnings call transcript

Power Co. of Canada Price Performance

The firm’s fifty day simple moving average is C$70.60 and its 200 day simple moving average is C$69.95. The firm has a market cap of C$51.08 billion, a P/E ratio of 20.49, a P/E/G ratio of 0.57 and a beta of 0.71. The company has a debt-to-equity ratio of 105.91, a quick ratio of 107.64 and a current ratio of 1.44.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Tuesday, May 12th. The financial services provider reported C$1.43 EPS for the quarter. The business had revenue of C$10.96 billion during the quarter. Power Co. of Canada had a net margin of 6.98% and a return on equity of 10.81%. As a group, analysts forecast 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.