Power Corp of Canada Gets a Hold Rating from Scotiabank

By Carrie Williams

In a new note to investors on May 15, an analyst has provided a rating update for the Financial sector company, Power Corp of Canada (TSX: POW). Analyst Phil Hardie from Scotiabank rated Power Corp of Canada (TSX: POW) a Hold on on May 15, setting a C$35 price target.

According to TipRanks.com, Hardie is ranked #1277 out of 4572 analysts.

Currently, the analyst consensus on Power Corp of Canada is Hold and the average price target is C$33.33, representing a 13.1% upside.

In a report issued on May 10, TD Securities also reiterated a Hold rating on the stock with a C$33 price target.

Power Corp of Canada’s market cap is currently C$13.8B and has a P/E ratio of 10.7.

Power Corp. of Canada is a international management and holding company with interests in companies in the financial services, communications and other business sectors. It operates through the following segments: Lifeco, IGM Financial and Pargesa. The Lifeco segment is a financial services holding company, which offers life insurance, health insurance, retirement, and investment management services and engages in asset management and reinsurance businesses. The IGM Financial segment provides investment advisory and management services. The Pargesa segment provides minerals-based specialty solutions for industry; cement, aggregates and concrete; oil, gas and alternative energies; wines and spirits; testing, inspection and certification; and electricity, natural gas, and energy and environmental services. The company was founded by Arthur J. Nesbitt and Peter A. Thomson on April 18, 1925 and is headquartered in Montreal, Canada.

The company’s shares closed last Tuesday at $29.47.