Intact Financial Corporation (IFC) Receives a Hold from CIBC

By Austin Angelo

The Financial sector company, Intact Financial Corporation (IFCResearch Report), has received a rating update from a Wall Street analyst yesterday. CIBC’s analyst Paul Holden reiterates their Hold rating on the shares, with a C$134 price target.

According to TipRanks.com, Holden is a 4-star analyst with an average return of 6.0% and a 59.2% success rate. Holden covers the Financial sector, focusing on stocks such as Sun Life Financial, Element Financial, and CI Financial Corp.

Intact Financial Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$130.11, implying a 3.3% upside from current levels. In a report issued on July 31, Raymond James also downgraded the stock to Hold with a C$133 price target.

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Intact Financial Corporation’s market cap is currently C$17.53B and has a P/E ratio of 24.2. The company has a Price to Book ratio of 2.52.

Intact Financial Corp. engages in providing property and casualty insurance in Canada and specialty insurance in North America. It operates through the following two business segments: Canada Insurance, U.S. Insurance, and Corporate and Other.

The company’s shares closed on Friday at C$125.95, close to its 52-week high of C$127.27.