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

Power Co. of Canada (TSE:POW)’s share price reached a new 52-week high during 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. The stock had previously closed at C$50.20.

Analyst Ratings Changes

Several equities research analysts recently weighed in on POW shares. Scotiabank increased their price target on Power Co. of Canada from C$56.00 to C$62.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group raised their target price on shares of Power Co. of Canada from C$54.00 to C$55.00 in a research note on Thursday, March 20th. 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. TD Securities raised their price objective on shares of Power Co. of Canada from C$53.00 to C$54.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Finally, Desjardins lifted 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 report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Power Co. of Canada has an average rating of “Moderate Buy” and an average price target of C$54.13.

Power Co. of Canada Price Performance

The firm’s 50-day simple moving average is C$46.81 and its two-hundred day simple moving average is C$45.32. The company has a market capitalization of C$32.82 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

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.