The Financial sector company, Indstrl Alliance Ins (TSX: IAG), has received a rating update from a Wall Street analyst today. Analyst Douglas Young from Desjardins remains bullish on the stock and has a C$57 price target.
According to TipRanks.com, Young is a 4-star analyst with an average return of 6.4% and a 68.5% success rate. Young covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
Indstrl Alliance Ins has an analyst consensus of Strong Buy, with a price target consensus of C$61.80.
Based on Indstrl Alliance Ins’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$2.63 billion and net profit of C$165 million. In comparison, last year the company earned revenue of C$2.27 billion and had a net profit of C$149 million.
Industrial Alliance Insurance & Financial Services, Inc. engages in the provision of insurance and investment solutions. It operates through the following segments: Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and Other.
The company’s shares closed on Tuesday at C$47.42.
