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

Power Co. of Canada (TSE:POW) had its price target boosted by Desjardins from C$104.00 to C$105.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Desjardins‘s price target would suggest a potential upside of 11.46% from the stock’s current price.

Several other brokerages have also weighed in on POW. Jefferies Financial Group raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Royal Bank Of Canada upped their target price on Power Co. of Canada from C$103.00 to C$115.00 and gave the company an “outperform” rating in a research note on Friday. TD raised their target price on Power Co. of Canada from C$84.00 to C$101.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, National Bank Financial lifted their price target on shares of Power Co. of Canada from C$85.00 to C$102.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$91.20.

Power Co. of Canada Stock Performance

Shares of TSE POW traded up C$1.27 during mid-day trading on Friday, hitting C$94.20. The company had a trading volume of 536,782 shares, compared to its average volume of 2,185,906. The company has a debt-to-equity ratio of 87.52, a current ratio of 0.71 and a quick ratio of 107.64. The business’s 50-day simple moving average is C$93.00 and its 200-day simple moving average is C$82.78. Power Co. of Canada has a 12 month low of C$62.50 and a 12 month high of C$98.49. The firm has a market cap of C$59.13 billion, a P/E ratio of 23.20, a PEG ratio of 0.57 and a beta of 0.57.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Wednesday, November 11th. The financial services provider reported C$1.53 earnings per share (EPS) for the quarter. The firm had revenue of C$10.81 billion for the quarter. Power Co. of Canada had a return on equity of 10.91% and a net margin of 7.72%. As a group, analysts predict that Power Co. of Canada will post 4.93 earnings per share for the current fiscal year.

Power Co. of Canada Company Profile

Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.