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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