Power Financial Gets a Hold Rating from Desjardins

By Ryan Adsit

The Financial sector company, Power Financial (TSX: PWF), has received a rating update from a Wall Street analyst yesterday. Desjardins’ analyst Douglas Young reiterates their Hold rating on the shares, with a C$35 price target.

Young has an average return of 10.1% when recommending Power Financial.

According to TipRanks.com, Young is ranked #448 out of 4836 analysts.

Currently, the analyst consensus on Power Financial is a Hold with an average price target of C$35.70.

Based on Power Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$11.93 billion and net profit of C$620 million. In comparison, last year the company earned revenue of C$11.48 billion and had a net profit of C$576 million.

Power Financial Corp. is a management and holding company, which holds interests in companies in the financial services sector in Canada, U.S., and Europe. It operates through the following segments: Lifeco, IGM, Pargesa, and Corporate.

The company’s shares closed on Tuesday at C$30.50, close to its 52-week low of C$30.30.