On August 11, an analyst has provided a rating update for the Financial sector company, Power Corp of Canada (POW – Research Report). Analyst John Aiken from Barclays remains neutral on the stock and has a C$43.00 price target.
According to TipRanks.com, Aiken is a 1-star analyst with an average return of -2.0% and a 44.7% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Toronto Dominion Bank, and Canadian Western Bank.
The word on The Street in general, suggests a Hold analyst consensus rating for Power Corp of Canada with a C$40.50 average price target, implying a 4.8% 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.
Based on Power Corp of Canada’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$8.27 billion and net profit of C$780 million. In comparison, last year the company earned revenue of C$36.06 billion and had a net profit of C$11.54 billion.
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 Friday at C$38.68, close to its 52-week high of C$38.98.
Read More on TSE:POW:
