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Intact Financial Corporation (IFC) Receives a Buy from Scotiabank


Intact Financial Corporation (IFC), the Financial sector company, was revisited by a Wall Street analyst on November 7. Scotiabank’s analyst Phil Hardie reiterates their Buy rating on the shares, with a C$115 price target.

According to TipRanks.com, Hardie is a 3-star analyst with an average return of 3.9% and a 56.8% success rate. Hardie covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Alaris Royalty Corp, and Element Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intact Financial Corporation with a C$110.54 average price target, representing a 6.3% upside. In a report issued on October 26, Raymond James also maintained a Buy rating on the stock with a C$110 price target.

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Intact Financial Corporation’s market cap is currently C$14.48B and has a P/E ratio of 22. The company has a Price to Book ratio of 2.11.

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$104.