Intact Financial Corporation was Upgraded to a Hold Rating at Desjardins

By Carrie Williams

Intact Financial Corporation (TSX: IFC), the Financial sector company, has received a rating update from a Wall Street analyst yesterday. The company received a Hold rating from Desjardins’ analyst Douglas Young, with a C$102 price target.

Young has an average return of 2.5% when recommending Intact Financial Corporation.

According to TipRanks.com, Young is ranked #448 out of 4836 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intact Financial Corporation with a C$107.33 average price target.

Based on Intact Financial Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$2.46 billion and net profit of C$103 million. In comparison, last year the company earned revenue of C$2.2 billion and had a net profit of C$243 million.

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

The company’s shares closed on Tuesday at C$99.24.