TSX:POW - Post Discussion
Post by
TimeBuilder on Aug 17, 2023 2:52pm
FYI: RBC comments
10:24 AM EDT, 08/14/2023 (MT Newswires) -- RBC Capital Markets raised its price target on Power Corp. of Canada (POW.TO) to $45 from $41.
Analyst Geoffrey Kwan maintained a Sector Perform rating on shares of the Canadian financial services company.
"Q2/23 EPS was ahead of our forecast primarily due to better-than-forecast investment income and gains from monetization, which can vary significantly quarter-to-quarter," Kwan said in a note to clients.
"Although not every transaction is material and the timing of transactions are hard to predict, POW continues to take steps to simplify its structure, surface value, etc. such that we think POW is a much more attractive story today," the analyst said.
"We see the stock as appealing to income-oriented investors with a longer-term investment horizon as they could benefit from material valuation upside from positive catalysts as we think POW is likely to continue to pursue transactions to simplify the structure and surface value, which we think would positively impact NAV growth and narrow the discount to NAV," Kwan said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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