Intact Financial (TSE:IFC) Given New C$288.00 Price Target at CIBC

Key Points

• Investment analysts at CIBC have lowered Intact Financial's price target from C$315.00 to C$288.00, maintaining a "neutral" rating for the stock, indicating a potential upside of 9.52%.
• Other analysts have mixed ratings for Intact Financial, with Jefferies upgrading their rating to "buy" and the average price target being C$322.80.
• The company's shares traded up 1.3% to C$262.97, with a market cap of C$46.90 billion and a PE ratio of 20.18.

Intact Financial (TSE:IFC - Get Free Report) had its price target lowered by investment analysts at CIBC from C$315.00 to C$288.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. CIBC's price objective would indicate a potential upside of 9.52% from the stock's current price.

A number of other equities research analysts have also commented on the company. Jefferies Financial Group upgraded Intact Financial from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$316.00 to C$317.00 in a research report on Tuesday. Royal Bank Of Canada lowered their target price on Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 31st. National Bankshares boosted their target price on Intact Financial from C$341.00 to C$350.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. TD Securities lowered their target price on Intact Financial from C$359.00 to C$346.00 in a research note on Wednesday. Finally, Barclays upgraded Intact Financial to a "strong-buy" rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$322.80.

Intact Financial Trading Up 1.3%

Shares of TSE IFC traded up C$3.29 during mid-day trading on Wednesday, reaching C$262.97. The company had a trading volume of 248,173 shares, compared to its average volume of 325,057. The stock has a market cap of C$46.90 billion, a PE ratio of 20.18, a P/E/G ratio of 2.01 and a beta of 0.14. The company has a 50-day moving average price of C$271.26 and a two-hundred day moving average price of C$290.29. Intact Financial has a 1-year low of C$250.28 and a 1-year high of C$317.35.

About Intact Financial

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.

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