Power Co. of Canada (TSE:POW) Hits New 12-Month High – Here’s Why

Power Co. of Canada (TSE:POW)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$49.73 and last traded at C$49.67, with a volume of 36434 shares trading hands. The stock had previously closed at C$49.10.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on POW. TD Securities increased their price target on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their target price on Power Co. of Canada from C$52.00 to C$54.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. BMO Capital Markets boosted their target price on Power Co. of Canada from C$42.00 to C$49.00 in a research report on Tuesday, November 12th. Cibc World Mkts upgraded shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Finally, Desjardins lifted their price objective on shares of Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Power Co. of Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$50.69.

Power Co. of Canada Price Performance

The stock has a market cap of C$32.24 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The stock’s 50 day simple moving average is C$45.34 and its two-hundred day simple moving average is C$44.32.

Power Co. of Canada Company Profile

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.