The Financial sector company, Power Corp of Canada (POW – Research Report), has received a rating update from a Wall Street analyst today. Scotiabank’s analyst Phil Hardie reiterates their Hold rating on the shares, with a C$44.00 price target.
According to TipRanks.com, Hardie is a top 100 analyst with an average return of 11.9% and a 76.0% success rate. Hardie covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, IGM Financial, and CI Financial.
The word on The Street in general, suggests a Hold analyst consensus rating for Power Corp of Canada with a C$39.83 average price target, implying a 14.5% upside from current levels. In a report issued on November 2, Desjardins also maintained a Hold rating on the stock with a C$38.00 price target.
Power Corp of Canada’s market cap is currently C$23.42B and has a P/E ratio of 10.33.
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 Tuesday at C$35.41.
Read More on TSE:POW:
- Power Corporation price target lowered to C$38 from C$41 at BMO Capital
- Power Corporation price target lowered to C$38 from C$40 at Desjardins
- Power Corporation price target lowered to C$40 from C$43 at TD Securities
- Power Corporation price target lowered to C$42.50 from C$43.50 at Scotiabank
- Power Corporation price target lowered to C$50 from C$55 at CIBC
