Jefferies Financial Group Upgrades Intact Financial (TSE:IFC) to Buy

Key Points

• Jefferies Financial Group upgraded Intact Financial from a "hold" rating to a "buy" rating, with a price target raised to C$317.00, indicating a potential upside of 21.97%.
• Other analysts have also raised their price targets for Intact Financial, with the average consensus price target now at C$325.00, reflecting a generally positive outlook.
• Shares of Intact Financial traded up to C$259.90 during mid-day trading on Tuesday, showing a change in market sentiment following the recent upgrades.

Intact Financial (TSE:IFC - Get Free Report) was upgraded by research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a C$317.00 price target on the stock, up from their previous price target of C$316.00. Jefferies Financial Group's price objective would suggest a potential upside of 21.97% from the stock's previous close.

A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their price target on Intact Financial from C$330.00 to C$335.00 in a report on Friday, July 11th. National Bankshares boosted their price target on Intact Financial from C$341.00 to C$350.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Scotiabank boosted their price target on Intact Financial from C$318.00 to C$325.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Finally, Barclays upgraded Intact Financial to a "strong-buy" rating in a report 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$325.00.

Intact Financial Price Performance

Shares of IFC traded up C$5.07 during mid-day trading on Tuesday, reaching C$259.90. 255,872 shares of the company's stock traded hands, compared to its average volume of 324,041. The stock has a market cap of C$46.35 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.01 and a beta of 0.14. The stock's 50-day moving average is C$271.63 and its two-hundred day moving average is C$290.51. Intact Financial has a 12 month low of C$250.28 and a 12 month 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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