In a latest note to investors, a research analyst has provided a rating update for the Power Corp of Canada (POW – Research Report). Analyst Geoffrey Kwan from RBC Capital remains neutral on the stock and has a C$41.00 price target.
According to TipRanks.com, Kwan is a 4-star analyst with an average return of 4.6% and a 54.9% success rate. Kwan covers the Financial sector, focusing on stocks such as Brookfield Corporation, Equitable Group, and IGM Financial.
Currently, the analyst consensus on Power Corp of Canada is a Moderate Buy with an average price target of C$40.00, which is a 10.0% upside from current levels. In a report issued on October 30, Scotiabank also maintained a Hold rating on the stock with a C$42.40 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 2.9M.
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 Thursday at C$36.37.
Read More on TSE:POW:
- Power Corporation price target raised to C$44 from C$42.50 at Scotiabank
- 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
