Royal Bank of Canada Trims Power Co. of Canada (POW) Target Price to C$33.00

Power Co. of Canada (TSE:POW) had its price target lowered by investment analysts at Royal Bank of Canada from C$36.00 to C$33.00 in a research note issued on Monday. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 16.61% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Desjardins upped their price target on shares of Power Co. of Canada from C$34.00 to C$35.00 in a research report on Monday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$36.00 price target on shares of Power Co. of Canada in a research report on Monday, March 19th. CIBC reduced their price target on shares of Power Co. of Canada from C$34.00 to C$33.00 in a research report on Wednesday, February 28th. Finally, Barclays reduced their price target on shares of Power Co. of Canada from C$35.00 to C$33.00 in a research report on Monday, March 19th.

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Power Co. of Canada (POW) traded down C$0.67 during midday trading on Monday, hitting C$28.30. 529,527 shares of the stock traded hands, compared to its average volume of 707,917. Power Co. of Canada has a 12-month low of C$28.28 and a 12-month high of C$33.69. The stock has a market cap of $12,440.00, a price-to-earnings ratio of 8.58 and a beta of 0.59.

In related news, insider Arnaud Vial sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of C$32.40, for a total transaction of C$162,000.00.

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Power Co. of Canada Company Profile

Power Corporation of Canada is a diversified management and holding company. The Company has interest in the financial services, renewable energy, communications and other business sectors. Its principal asset is the controlling interest in Power Financial Corporation (Power Financial). Its segments are Great-West Lifeco Inc (Lifeco), IGM Financial Inc (IGM) and Pargesa Holding SA (Pargesa).

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