Intact Financial (TSE:IFC) Price Target Cut to C$318.00 by Analysts at Scotiabank

Key Points

• Scotiabank has lowered its price target for Intact Financial from C$339.00 to C$318.00 while still maintaining an "outperform" rating on the stock, suggesting a potential upside of 20.93% from current levels.
• The stock has received mixed ratings, with one analyst assigning a Strong Buy rating, six a Buy rating, and three a Hold rating, resulting in a consensus rating of "Moderate Buy" and an average price target of C$322.80.
• Intact Financial's share price on Wednesday rose C$3.29 to C$262.97, and the company has a market capitalization of C$46.90 billion with a 52-week price range between C$250.28 and C$317.35.

Intact Financial (TSE:IFC - Get Free Report) had its price target dropped by investment analysts at Scotiabank from C$339.00 to C$318.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 20.93% from the stock's current price.

IFC has been the subject of several other reports. TD Securities decreased their price target on shares of Intact Financial from C$359.00 to C$346.00 in a research note on Wednesday. Barclays upgraded shares of Intact Financial to a "strong-buy" rating in a research note on Tuesday, September 30th. BMO Capital Markets increased their price objective on shares of Intact Financial from C$330.00 to C$335.00 in a research report on Friday, July 11th. National Bankshares raised their price target on shares of Intact Financial from C$341.00 to C$350.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada dropped their price target on shares of Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$322.80.

Intact Financial Stock Performance

Shares of Intact Financial stock traded up C$3.29 during trading on Wednesday, hitting C$262.97. The company's stock had a trading volume of 248,173 shares, compared to its average volume of 325,057. The company has a fifty day simple moving average of C$271.26 and a two-hundred day simple moving average of C$290.29. The company has a market capitalization 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. Intact Financial has a 52 week low of C$250.28 and a 52 week high of C$317.35.

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.

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