In a new note to investors today, an analyst has provided a rating update for Power Corp of Canada (POW – Research Report). Desjardins’ analyst Douglas Young upgraded POW to Buy , with a C$39.00 price target.
According to TipRanks.com, Young is a 5-star analyst with an average return of 12.0% and a 68.6% success rate. Young covers the Financial sector, focusing on stocks such as Canadian Western Bank, Bank Of Nova Scotia, and Manulife Financial.
Currently, the analyst consensus on Power Corp of Canada is a Moderate Buy with an average price target of C$40.00, representing a 12.6% upside. In a report issued on October 31, TD Securities also maintained a Buy rating on the stock with a C$40.00 price target.
The company has a one-year high of C$38.98 and a one-year low of C$31.47. Currently, Power Corp of Canada has an average volume of 2.93M.
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$36.37.
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
