Intact Financial Corporation (IFC) has received a rating update from a Wall Street analyst on January 28. Scotiabank’s analyst Phil Hardie reiterates their Buy rating on the shares, with a C$118 price target.
According to TipRanks.com, Hardie is a 3-star analyst with an average return of 2.1% and a 54.6% success rate. Hardie covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Alaris Royalty Corp, and Element Financial.
Currently, the analyst consensus on Intact Financial Corporation is a Moderate Buy with an average price target of C$113.38, representing a 10.1% upside. In a report issued on January 15, RBC Capital also maintained a Buy rating on the stock with a C$115 price target.
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Based on Intact Financial Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$2.67 billion and net profit of C$199 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 Tuesday at C$103.02.
