Power Financial’s Constituents’ Fourth-Quarter 2017 Results Reveal No Surprises; Maintaining FVE
We are publishing an early preview ahead of no-moat rated Power Financial Corporation’s reported earnings since we have results from both no-moat rated Great-West and narrow-moat rated IGM Financial. Together, these two firms constitute over 90% over the conglomerate firm’s equity value. Nothing in either Great-West or IGM’s results alters our long-term view of Power Financial Corporation. We are maintaining our fair value estimate of CAD 35 per share.For Great-West’s full-year fiscal 2017 resu...
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