Power Co. of Canada (TSE:POW) Sets New 1-Year High – Still a Buy?

Power Co. of Canada (TSE:POW)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$51.75 and last traded at C$51.72, with a volume of 355487 shares. The stock had previously closed at C$50.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$49.00 to C$52.00 in a research report on Friday, March 14th. Scotiabank raised their price target on Power Co. of Canada from C$56.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, March 21st. CIBC upgraded Power Co. of Canada from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$48.00 to C$55.00 in a research note on Friday, February 7th. TD Securities increased their price objective on Power Co. of Canada from C$53.00 to C$54.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, Desjardins raised their target price on Power Co. of Canada from C$49.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$54.13.

Power Co. of Canada Price Performance

The firm’s 50-day moving average price is C$47.98 and its 200 day moving average price is C$45.78. The firm has a market capitalization of C$33.26 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth 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.