01:50 PM EDT, 03/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by CAD1 to CAD43, valuing POW shares at 9x our '25 operating EPS estimate of CAD4.80 and at 9.5x our '24 EPS estimate of CAD4.55 (upped by CAD0.20), versus the one-year average forward multiple of 8.9x and a disparate peer group average of 9.6x. POW posted Q4 operating EPS of CAD0.89 versus CAD0.59, lagging our CAD1.02 EPS estimate and the CAD1.08 consensus view. Results primarily reflected 8.6% higher operating profits at Great-West Lifeco Inc., partly offset by an 11.5% decline in operating profits at IGM Financial Inc. Full-year EPS of CAD4.47 versus CAD2.85 lagged our CAD4.58 EPS estimate and the CAD4.65 consensus view. We forecast 3%-5% higher operating revenues in '24 and '25, but M&A could accelerate that growth. Weighing POW's below-peer valuation with its relatively uneven rate of growth, we view the shares, currently trading at 9.1x our '24 operating EPS estimate, fairly valued versus historical averages, but with a current yield of 5.3%; thus, we keep our Hold rating.