CIBC Increases Power Co. of Canada (TSE:POW) Price Target to C$44.00

Power Co. of Canada (TSE:POW) had its target price lifted by research analysts at CIBC from C$41.00 to C$44.00 in a research report issued to clients and investors on Friday, Analyst Price Targets reports. The firm presently has an “outperform” rating on the financial services provider’s stock. CIBC’s target price would suggest a potential upside of 17.27% from the company’s previous close.

POW has been the subject of a number of other reports. Royal Bank of Canada raised their price target on shares of Power Co. of Canada from C$34.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 18th. National Bank Financial restated a “sector perform overweight” rating and issued a C$38.00 price target on shares of Power Co. of Canada in a report on Friday, April 30th. Scotiabank raised their price objective on shares of Power Co. of Canada from C$40.00 to C$44.00 in a research note on Tuesday, May 11th. TD Securities raised their price objective on shares of Power Co. of Canada from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Tuesday, May 11th. Finally, National Bankshares set a C$38.00 price objective on shares of Power Co. of Canada and gave the company an “outperform” rating in a research note on Friday, April 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of C$40.86.

TSE:POW opened at C$37.52 on Friday. The company has a current ratio of 17.90, a quick ratio of 14.97 and a debt-to-equity ratio of 55.62. The stock has a market capitalization of C$23.33 billion and a price-to-earnings ratio of 12.18. The firm has a fifty day simple moving average of C$34.71 and a two-hundred day simple moving average of C$31.17. Power Co. of Canada has a 12 month low of C$20.35 and a 12 month high of C$37.53.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Wednesday, March 17th. The financial services provider reported C$0.93 EPS for the quarter, topping analysts’ consensus estimates of C$0.87 by C$0.06. The company had revenue of C$17.95 billion during the quarter. Equities analysts predict that Power Co. of Canada will post 3.8199998 earnings per share for the current fiscal year.

Power Co. of Canada Company Profile

Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through three segments: Lifeco, IGM Financial, and GBL. The company offers life, disability, critical illness, accidental death, dismemberment, dental protection, creditor, and health insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services.

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