The Globe and Mail reports in its Friday, Nov. 14, edition that National Bank Financial analyst Jaeme Gloyn continues to rank Power Corp. of Canada "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn jacked his share target up by $5 to $69. Analysts on average target the shares at $65.86. Mr. Gloyn says in a note: "A solid quarter of earnings and NAV growth (up 25 per cent and 12 per cent year-over-year), and capital returned to shareholders. We believe these results will sustain the shares at the current discount to NAV; however, further narrowing of the already record tight discount is likely more challenging. We see NAV upside from strategies to I) further simplify and derisk the business model (i.e., no material exposure to standalone businesses), and ii) drive a rerate of operating company valuations through organic and inorganic drivers. ... Longer term, we see upside from growth in the alternative asset management platform that continues to grow AUM; however, the timing of upside remains uncertain. In the meantime, Power stands to benefit from significant carried interest. ... Power increased the dividend 9 per cent in 2024, and we expect more to come."
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