Fairfax Financial (TSE:FFH) Hits New 1-Year High - Time to Buy?

Key Points

• Fairfax Financial's share price reached a new 52-week high of C$2,522.33 during trading, closing at C$2,503.00.
• Analysts have shown a positive outlook, with multiple brokerages raising their price targets to as high as C$3,000.00, and five analysts rating the stock as a "Buy."
• Despite recent highs, the stock is currently down 1.6%, with a market capitalization of C$54.84 billion and a PE ratio of 12.52.

Fairfax Financial Holdings Limited (TSE:FFH - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$2,522.33 and last traded at C$2,503.00, with a volume of 4724 shares changing hands. The stock had previously closed at C$2,504.71.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FFH. Scotiabank raised their price objective on shares of Fairfax Financial from C$2,500.00 to C$2,900.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. National Bankshares raised their price objective on shares of Fairfax Financial from C$2,700.00 to C$3,000.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Cormark cut shares of Fairfax Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, August 6th. Raymond James Financial raised their price objective on shares of Fairfax Financial from C$2,600.00 to C$2,900.00 and gave the stock an "outperform" rating in a research note on Monday, July 7th. Finally, Royal Bank Of Canada raised their target price on shares of Fairfax Financial from C$2,050.00 to C$2,200.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$2,742.86.

Fairfax Financial Trading Down 1.6%

The company's 50 day moving average price is C$2,405.93 and its 200-day moving average price is C$2,321.25. The company has a market capitalization of C$54.84 billion, a PE ratio of 12.52, a PEG ratio of 0.27 and a beta of 0.44.

Fairfax Financial Company Profile

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

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