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 CIBC from C$45.00 to C$51.00 in a report issued on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on POW. Royal Bank of Canada boosted their price target on Power Co. of Canada from C$46.00 to C$47.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Scotiabank upped their target price on Power Co. of Canada from C$47.00 to C$47.50 in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Power Co. of Canada from C$45.00 to C$44.00 in a research note on Friday, August 2nd. Desjardins upped their price objective on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, National Bankshares raised their target price on shares of 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Power Co. of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.31.

Power Co. of Canada Stock Performance

Shares of Power Co. of Canada stock opened at C$45.62 on Wednesday. The company has a quick ratio of 107.64, a current ratio of 91.78 and a debt-to-equity ratio of 48.53. The stock’s fifty day moving average is C$43.68 and its two-hundred day moving average is C$40.60. Power Co. of Canada has a 52 week low of C$35.83 and a 52 week high of C$47.18. The company has a market capitalization of C$27.03 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Tuesday, November 12th. The financial services provider reported C$0.82 EPS 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 company had revenue of C$5.29 billion during the quarter. As a group, analysts expect that Power Co. of Canada will post 4.9289678 earnings per share 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.