02:50 PM EDT, 05/09/2024 (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 keep our 12-month target price of CAD43, valuing POW shares at 9x our '25 operating EPS estimate of CAD4.80 and at 9.4x our '24 EPS estimate of CAD4.57 (upped today by CAD0.02), versus the shares' one-year average forward multiple of 8.8x and a peer average of 10.6x. POW posted Q1 adjusted EPS of CAD1.12 versus CAD0.88 (as restated), in line with the consensus forecast and compared to our CAD1.10 EPS estimate. Results reflected 23% higher profits at Lifeco, 9.4% earnings growth at IGM, and a near tripling of profits at GBL, partly offset by losses at Sagard and Power Sustainable, the absence of profits from ChinaAMC, and mixed investment results. We view POW's insurance profit growth positively, though our view is tempered by a mixed outlook at certain other units. Currently trading at 8.8x our '24 EPS estimate, in line with historical averages, we view the shares as fairly valued, but worth holding, given their current yield of 5.6%.