TD Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Key Points

• TD raised its price target on Intact Financial to C$309 from C$303 and reiterated its buy rating, implying 9.66% upside from the current share price.
• Analyst views are broadly positive: nine rate the stock Buy and two Hold, with a consensus “Moderate Buy” rating and an average target of C$324.62.
• Intact shares rose C$19.04 to C$281.77 on Wednesday, trading below their 52-week high of C$305.52.

Intact Financial (TSE:IFC - Get Free Report) had its price target lifted by research analysts at TD from C$303.00 to C$309.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would indicate a potential upside of 9.66% from the stock's current price.

A number of other equities analysts also recently weighed in on IFC. RBC Dominion Securities lowered their price target on Intact Financial from C$308.00 to C$285.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 15th. Scotia cut their price objective on Intact Financial from C$325.00 to C$315.00 and set a "sector outperform" rating for the company in a research report on Wednesday, October 7th. Canadian Imperial Bank of Commerce reduced their target price on Intact Financial from C$314.00 to C$311.00 in a research note on Thursday, July 30th. Desjardins set a C$310.00 target price on Intact Financial and gave the stock a "buy" rating in a report on Thursday, October 29th. Finally, Royal Bank Of Canada increased their price target on Intact Financial from C$299.00 to C$308.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$324.62.

Intact Financial Stock Performance

IFC stock traded up C$19.04 during trading hours on Wednesday, reaching C$281.77. The stock had a trading volume of 303,702 shares, compared to its average volume of 463,685. The stock has a market capitalization of C$49.69 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45. The company has a debt-to-equity ratio of 23.22, a current ratio of 7.21 and a quick ratio of 0.28. The stock has a 50-day simple moving average of C$256.54 and a 200 day simple moving average of C$265.02. Intact Financial has a fifty-two week low of C$236.92 and a fifty-two week high of C$305.52.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company's direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.

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