Power Co. of Canada (TSE:POW) Sets New 12-Month High – Should You Buy?

Power Co. of Canada (TSE:POW) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$50.99 and last traded at C$50.96, with a volume of 1686680 shares changing hands. The stock had previously closed at C$50.20.

Analysts Set New Price Targets

Several brokerages recently commented on POW. TD Securities raised their target price on Power Co. of Canada from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Thursday, March 20th. CIBC raised shares of Power Co. of Canada from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$48.00 to C$55.00 in a research report on Friday, February 7th. National Bankshares lifted their target price on Power Co. of Canada from C$50.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday, March 20th. Scotiabank increased their target price on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Finally, Desjardins lifted their price objective on shares of 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. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$54.13.

Power Co. of Canada Stock Down 0.8 %

The company has a 50 day moving average of C$47.16 and a two-hundred day moving average of C$45.43. The firm has a market cap of C$32.44 billion, a P/E ratio of 14.33, 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.