Power Corp of Canada Gets a Hold Rating from RBC Capital

By Ryan Adsit

Power Corp of Canada (TSX: POW), the Financial sector company, was revisited by a Wall Street analyst yesterday. The company received a Hold rating from RBC Capital’s analyst Darko Mihelic, with a C$33 price target.

According to TipRanks.com, Mihelic is a 4-star analyst with an average return of 5.7% and a 63.1% success rate. Mihelic covers the Financial sector, focusing on stocks such as Manulife Financial Corp, Goldman Sachs Group Inc, and Toronto Dominion Bank.

Currently, the analyst consensus on Power Corp of Canada is Hold and the average price target is C$33.33, representing a 15.3% upside.

In a report issued on May 15, Scotiabank also maintained a Hold rating on the stock with a C$35 price target.

The company has a one year high of C$32.49 and a one year low of C$26.63. Currently, Power Corp of Canada has an average volume of 959.8K.

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 Friday at $28.90.