Power Corporation of Canada Shs Subord.Voting

POW: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 28.00	Xxd	Czdpjgdp

Lower Market Valuations Weigh on Power Corporation’s Financial Results

Rajiv Bhatia

Nov 10, 2022

Amid volatile equity and fixed income markets, Power Corporation saw its earning decline. Power posted third-quarter adjusted earnings of CAD 0.63, down from CAD 1.10 in the year-ago period. The decline was broad-based across Power’s portfolio. We will maintain our no-moat rating on Power Corporation’s shares and expect to lower our fair value estimate by a single-digit percentage as we update our model to reflect a lower fair value estimate of IGM Financial and lower net asset values of the firm’s alternative investments and standalone businesses.

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