Power Co. of Canada (TSE:POW) Hits New 1-Year High – Should You Buy?

Power Co. of Canada (TSE:POW)’s stock price hit a new 52-week high on Monday . The company 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

Several research firms have issued reports on POW. CIBC upgraded Power Co. of Canada from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. Desjardins increased their target price 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 report on Tuesday. BMO Capital Markets boosted their price target on shares of Power Co. of Canada from C$42.00 to C$49.00 in a research report on Tuesday, November 12th. TD Securities upped 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 Thursday, February 13th. Finally, Cibc World Mkts upgraded shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Power Co. of Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$50.69.

Power Co. of Canada Stock Up 0.8 %

The company has a market cap of C$32.24 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.57 and a beta of 1.09. The business has a 50-day moving average price of C$45.34 and a two-hundred day moving average price of 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.