CA - Power Corporation of Canada: Defensive Discount To NAV And Attractive GARP Strategy
2025-05-28 03:33:30 ET
Summary
- We reiterate my Buy rating on Power Corporation, citing a compelling 20% discount to NAV and strong defensive qualities amid market volatility.
- Power's underlying holdings are not overvalued compared to peers, and the persistent NAV discount offers a margin of safety rather than a value trap.
- Growth prospects are robust: forward revenue growth is projected at 16.6%, outpacing Canadian financial peers, with key holdings delivering record results.
- Power’s alternative asset platform is rapidly expanding, with AUM growing from $5.6B to $43.4B in five years, positioning the company for continued upside.
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Power Corporation of Canada: Defensive Discount To NAV And Attractive GARP Strategy