Indstrl Alliance Ins (IAG) Receives a Buy from BMO Capital


A Wall Street analyst has provided a review for the Financial company today, but retained the same rating on the stock. BMO Capital’s analyst Tom Mackinnon reiterates their Buy rating on the shares of Indstrl Alliance Ins (IAG), with a C$62 price target.

According to TipRanks.com, Mackinnon is a 4-star analyst with an average return of 4.9% and a 58.7% success rate. Mackinnon covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Sun Life Financial, and IGM Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Indstrl Alliance Ins with a C$59.33 average price target, implying a 17.3% upside from current levels. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a C$61 price target.

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Based on Indstrl Alliance Ins’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$2.49 billion and net profit of C$171 million. In comparison, last year the company earned revenue of C$2.8 billion and had a net profit of C$136 million.

iA Financial Corp., Inc. is a holding company, which engages in the provision of financial and insurance services. Its operates through its subsidiary, Industrial Alliance Insurance and Financial Services Inc. The company is headquartered in Quebec, Canada.

The company’s shares closed on Friday at C$50.56.

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