Barclays Issues Positive Forecast for Great-West Lifeco (TSE:GWO) Stock Price

by · The Markets Daily

Great-West Lifeco (TSE:GWO – Get Free Report) had its target price raised by Barclays from C$58.00 to C$59.00 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s price objective points to a potential downside of 2.72% from the company’s current price.

A number of other research firms have also commented on GWO. BMO Capital Markets raised their price objective on Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. UBS Group upgraded Great-West Lifeco to a “strong-buy” rating in a research note on Thursday, October 16th. Desjardins raised their price objective on Great-West Lifeco from C$55.00 to C$60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. National Bankshares raised their price objective on Great-West Lifeco from C$52.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. Finally, TD Securities raised their price objective on Great-West Lifeco from C$59.00 to C$66.00 in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$60.00.

View Our Latest Analysis on GWO

Great-West Lifeco Stock Performance

Shares of TSE GWO traded up C$1.33 during trading hours on Thursday, reaching C$60.65. 667,393 shares of the stock were exchanged, compared to its average volume of 2,581,368. The firm has a market capitalization of C$56.09 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 2.26 and a beta of 0.63. Great-West Lifeco has a 52 week low of C$44.89 and a 52 week high of C$61.39. The stock’s fifty day simple moving average is C$56.52 and its 200 day simple moving average is C$53.65.

Great-West Lifeco announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 5th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Great-West Lifeco

(Get Free Report)

Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm’s profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement.

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