In a latest note to investors, a research analyst has provided a rating update for the Power Corp of Canada (POW – Research Report). Analyst Tom Mackinnon from BMO Capital remains neutral on the stock and has a $41.00 price target.
According to TipRanks.com, Mackinnon is a 5-star analyst with an average return of 14.5% and a 68.6% success rate. Mackinnon covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Manulife Financial, and Sun Life Financial.
Power Corp of Canada has an analyst consensus of Hold, with a price target consensus of C$42.31, which is an 11.5% upside from current levels. In a report issued on July 27, National Bank also maintained a Hold rating on the stock with a C$42.00 price target.
Power Corp of Canada’s market cap is currently C$25.27B and has a P/E ratio of 14.50.
Incorporated in 1925, Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Lifeco (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). In December 2019, Power Corp. announced it would buy out the remaining shares of Power Financial. This transaction was completed in February 2020.
The company’s shares closed last Wednesday at C$38.11, close to its 52-week high of C$38.38.
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