Power Co. of Canada (TSE:POW) Sets New 52-Week High – Still a Buy?

Shares of Power Co. of Canada (TSE:POW) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$48.15 and last traded at C$48.11, with a volume of 82915 shares. The stock had previously closed at C$47.62.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price target on Power Co. of Canada from C$42.00 to C$49.00 in a research note on Tuesday, November 12th. CIBC raised Power Co. of Canada from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. National Bankshares lifted their price target on Power Co. of Canada from C$42.00 to C$47.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Cibc World Mkts raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Finally, TD Securities lifted their price objective on Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Power Co. of Canada has an average rating of “Moderate Buy” and an average target price of C$48.31.

Power Co. of Canada Stock Performance

The firm has a market cap of C$30.85 billion, a P/E ratio of 13.63, a PEG ratio of 0.57 and a beta of 1.09. The stock’s fifty day moving average price is C$44.75.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.