Power Co. of Canada (TSE:POW) Sets New 52-Week High – Still a Buy?

Power Co. of Canada (TSE:POW)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$54.24 and last traded at C$54.16, with a volume of 304342 shares trading hands. The stock had previously closed at C$53.44.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank Of Canada raised Power Co. of Canada to a “moderate buy” rating and set a C$57.00 price target for the company in a research note on Wednesday, June 18th. TD Securities lifted their price objective on Power Co. of Canada from C$54.00 to C$56.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Cibc World Mkts downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Scotiabank decreased their price objective on Power Co. of Canada from C$61.00 to C$57.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, BMO Capital Markets lifted their price objective on Power Co. of Canada from C$52.00 to C$54.00 in a report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Power Co. of Canada has an average rating of “Moderate Buy” and an average price target of C$55.38.

Power Co. of Canada Stock Up 1.6%

The company’s 50 day moving average price is C$52.20 and its two-hundred day moving average price is C$49.39. The stock has a market cap of C$34.71 billion, a P/E ratio of 15.33, a P/E/G 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.