Intact Financial Corporation (IFC), the Financial sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Tom Mackinnon from BMO Capital remains bullish on the stock and has a C$119 price target.
According to TipRanks.com, Mackinnon is a 4-star analyst with an average return of 5.0% and a 59.8% success rate. Mackinnon covers the Financial sector, focusing on stocks such as Manulife Financial Corp, Sun Life Financial, and IGM Financial.
Intact Financial Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$115, which is a 4.7% upside from current levels. In a report issued on January 28, Scotiabank also reiterated a Buy rating on the stock with a C$118 price target.
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Based on Intact Financial Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$2.57 billion and net profit of C$244 million. In comparison, last year the company earned revenue of C$2.68 billion and had a net profit of C$232 million.
Intact Financial Corp. engages in providing property and casualty insurance in Canada and specialty insurance in North America. It operates through the following business segments: Canada Insurance, U.S. Insurance, and Corporate and Other.
The company’s shares closed on Thursday at C$109.87, close to its 52-week high of C$110.91.