Intact Financial (TSE:IFC) Upgraded to "Strong-Buy" at Barclays

Key Points

• Intact Financial (TSE:IFC) has been upgraded to a "strong-buy" rating by Barclays, indicating increased investor confidence in the company's prospects.
• Several analysts have raised their price targets for Intact Financial, with National Bankshares setting a new target of C$350.00 and Scotiabank at C$325.00.
• The company's stock has experienced a slight decrease, trading down 0.1% and hitting C$266.53 during mid-day trading on Tuesday.

Intact Financial (TSE:IFC - Get Free Report) was upgraded by investment analysts at Barclays to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. National Bankshares boosted their price target on shares of Intact Financial from C$341.00 to C$350.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. BMO Capital Markets boosted their price target on shares of Intact Financial from C$330.00 to C$335.00 in a research note on Friday, July 11th. Royal Bank Of Canada decreased their target price on shares of Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. Finally, Scotiabank upped their target price on shares of Intact Financial from C$318.00 to C$325.00 in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$322.20.

Intact Financial Trading Down 0.1%

Intact Financial stock traded down C$0.38 during mid-day trading on Tuesday, hitting C$266.53. The stock had a trading volume of 6,344 shares, compared to its average volume of 317,027. Intact Financial has a one year low of C$250.28 and a one year high of C$317.35. The firm has a market capitalization of C$47.53 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.01 and a beta of 0.13. The firm's 50 day moving average is C$278.01 and its 200 day moving average is C$292.30.

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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