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

Power Co. of Canada (TSE:POW) shares reached a new 52-week high on Monday . The company traded as high as C$53.37 and last traded at C$53.25, with a volume of 194682 shares traded. The stock had previously closed at C$52.29.

Analysts Set New Price Targets

POW has been the topic of a number of research analyst reports. Cibc World Mkts downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. TD Securities upped their price target on shares of Power Co. of Canada from C$54.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. National Bankshares raised their price objective on shares of Power Co. of Canada from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 20th. Jefferies Financial Group increased their target price on Power Co. of Canada from C$55.00 to C$56.00 in a report on Monday, April 21st. Finally, Desjardins upped their price objective on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$54.13.

Power Co. of Canada Price Performance

The stock’s fifty day simple moving average is C$50.71 and its two-hundred day simple moving average is C$48.17. The company has a market capitalization of C$34.16 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.57 and a beta of 1.09.

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.