BMO Capital Markets Upgrades Price Target for Power Co. of Canada Stock

BMO Capital Markets has recently adjusted the price target for shares of Power Co. of Canada (TSE:POW), raising it from C$49.00 to C$52.00 in a research note released on Friday. This new target suggests a potential upside of 6.27% from the stock's previous close, indicating analysts' confidence in the company's future performance.

In addition to BMO Capital Markets, other financial institutions have also modified their outlook on Power Co. of Canada. For instance, TD Securities increased their target price to C$53.00 while maintaining a "buy" rating on February 13. Similarly, Desjardins also raised their price target to C$53.00 and recommended a "buy" rating on March 4. Furthermore, CIBC World Markets upgraded their rating from "hold" to "strong-buy" and increased their price target to C$55.00 on February 7.

Jefferies Financial Group also contributed to the positive sentiment by elevating their price target from C$52.00 to C$54.00 and assigning a "buy" rating in a report dated February 27. Overall, the stock has received a mix of ratings, with three analysts suggesting a hold, five recommending a buy, and one giving it a strong buy rating. Based on data from MarketBeat.com, the consensus rating for the stock stands at "Moderate Buy" with an average target price of C$51.06.

Power Co. of Canada Stock Performance

On Friday, shares of Power Co. of Canada traded positively, showing an increase of 1.5%, or C$0.74, bringing the price to C$48.93 during mid-day trading. The trading volume reached 289,804 shares, which is significantly lower than the average volume of 2,179,457. The stock's 50-day moving average is C$45.93, while the 200-day moving average sits at C$44.82. Over the last year, Power Co. of Canada has seen a low of C$35.83 and a high of C$50.79. The company currently boasts a market capitalization of C$31.27 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.57, and a beta value of 1.09.

About Power Co. of Canada

Power Corporation of Canada is a multinational management and holding company that operates within the financial services sector across North America, Europe, and Asia. Its business segments include Lifeco, IGM Financial, and GBL. The company provides a variety of services including life, health, and dental insurance, along with retirement savings, income, and annuity products, aiming to cater to individuals and small business owners.

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