Raymond James Financial Forecasts Strong Price Appreciation for Fairfax Financial (TSE:FFH) Stock

Key Points

• Raymond James Financial raised its target price for Fairfax Financial stock from C$2,900.00 to C$3,050.00, indicating a potential upside of 29.30% from its current price.
• Fairfax Financial has received multiple positive ratings, with analysts generally issuing Buy ratings, but one firm downgraded it to a Hold rating.
• Despite the positive forecasts, Fairfax Financial's stock is currently down 3.0%, trading at C$2,358.79 at midday on Thursday.

Fairfax Financial (TSE:FFH - Get Free Report) had its target price hoisted by equities researchers at Raymond James Financial from C$2,900.00 to C$3,050.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 29.30% from the company's current price.

FFH has been the subject of several other research reports. Royal Bank Of Canada raised their target price on 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. National Bankshares lifted their price objective on Fairfax Financial from C$2,700.00 to C$3,000.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Cormark cut Fairfax Financial from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, August 6th. BMO Capital Markets lifted their price objective on Fairfax Financial from C$2,500.00 to C$2,800.00 in a research report on Friday, July 11th. Finally, Scotiabank lifted their price objective on Fairfax Financial from C$2,500.00 to C$2,900.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$2,764.29.

Fairfax Financial Stock Down 3.0%

Shares of Fairfax Financial stock traded down C$72.57 during midday trading on Thursday, hitting C$2,358.79. The company's stock had a trading volume of 40,640 shares, compared to its average volume of 52,908. The firm has a market capitalization of C$52.46 billion, a P/E ratio of 11.98, a PEG ratio of 0.27 and a beta of 0.44. The stock has a 50-day simple moving average of C$2,406.74 and a 200-day simple moving average of C$2,322.01. Fairfax Financial has a 1-year low of C$1,715.00 and a 1-year high of C$2,522.33.

About Fairfax Financial

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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