BMO Capital Markets Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its price objective increased by BMO Capital Markets from C$315.00 to C$320.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 19.22% from the stock’s previous close.

Several other analysts also recently weighed in on the company. National Bankshares lifted their target price on Intact Financial from C$352.00 to C$358.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Scotiabank cut their target price on Intact Financial from C$339.00 to C$318.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. TD Securities dropped their price objective on Intact Financial from C$359.00 to C$346.00 in a research note on Wednesday, October 22nd. Jefferies Financial Group boosted their price objective on Intact Financial from C$317.00 to C$320.00 in a research note on Thursday. Finally, Barclays boosted their price objective on Intact Financial from C$312.00 to C$318.00 in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Intact Financial currently has an average rating of “Moderate Buy” and an average target price of C$317.91.

Intact Financial Price Performance

Shares of TSE IFC traded down C$1.31 during mid-day trading on Thursday, hitting C$268.42. The company had a trading volume of 170,329 shares, compared to its average volume of 335,161. The firm’s 50 day simple moving average is C$267.99 and its two-hundred day simple moving average is C$288.73. The stock has a market cap of C$47.87 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.01 and a beta of 0.10. 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.