CIBC Boosts Power Co. of Canada (TSE:POW) Price Target to C$51.00

Power Co. of Canada (TSE:POW) had its target price raised by equities research analysts at CIBC from C$45.00 to C$51.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 11.87% from the company’s previous close.

Several other analysts have also issued reports on POW. BMO Capital Markets boosted their price objective on shares of Power Co. of Canada from C$42.00 to C$49.00 in a report on Tuesday. Desjardins boosted their price target on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Scotiabank increased their price objective on shares of Power Co. of Canada from C$47.00 to C$47.50 in a research report on Wednesday, July 24th. National Bankshares boosted their target price on Power Co. of Canada from C$42.00 to C$47.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, TD Securities upgraded Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$46.39.

Power Co. of Canada Stock Performance

Power Co. of Canada stock opened at C$45.59 on Wednesday. The stock has a market cap of C$27.01 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 48.53, a current ratio of 91.78 and a quick ratio of 107.64. The firm has a 50 day simple moving average of C$43.59 and a 200-day simple moving average of C$40.54. Power Co. of Canada has a 1-year low of C$35.52 and a 1-year high of C$47.18.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings data on Tuesday, November 12th. The financial services provider reported C$0.82 earnings per share for the quarter, missing the consensus estimate of C$1.14 by C($0.32). Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The business had revenue of C$5.29 billion during the quarter. On average, analysts expect that Power Co. of Canada will post 4.9289678 EPS for the current year.

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.