Power Corporation initiated with a Buy at Jefferies

Jefferies analyst John Aiken initiated coverage of Power Corporation with a Buy rating and C$43 price target as the firm round out coverage of the Canadian financials Power is trading at a significant discount to its net asset value, or NAV, and a reversion to its average discount translates to a 14.7% return, without any additional lift from the valuation of its subsidiaries, says the analyst, who believes that Power’s discount to NAV will narrow.