Intact Financial Corporation (IFC – Research Report) has received a rating update from a Wall Street analyst yesterday. Analyst Douglas Young from Desjardins reiterated a Buy rating, with a C$230.00 price target.
According to TipRanks.com, Young is a 5-star analyst with an average return of 12.0% and a 69.1% success rate. Young covers the Financial sector, focusing on stocks such as Canadian Western Bank, Bank Of Nova Scotia, and Manulife Financial.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Intact Financial Corporation with a C$227.86 average price target, which is a 10.6% upside from current levels. In a report issued on October 30, Scotiabank also maintained a Buy rating on the stock with a C$227.00 price target.
The company has a one-year high of C$207.97 and a one-year low of C$182.01. Currently, Intact Financial Corporation has an average volume of 278K.
Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly owned subsidiary, BrokerLink, and directly to consumers through belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities. Its asset mix is designed to generate interest and dividend income.
The company’s shares closed last Thursday at C$206.36, close to its 52-week high of C$207.97.
Read More on TSE:IFC:
- Intact Financial price target raised to C$232 from C$227 at Scotiabank
- IFC Earnings this Week: How Will it Perform?
- Intact Financial price target raised to C$227 from C$222 at Scotiabank
- Intact Financial price target raised to C$228 from C$227 at RBC Capital
- Intact Financial price target raised to C$222 from C$218 at Scotiabank
