Scotiabank Cuts Intact Financial (TSE:IFC) Price Target to C$318.00

Intact Financial (TSE:IFC) had its target price lowered by Scotiabank from C$339.00 to C$318.00 in a report published on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on IFC. TD Securities cut their target price on Intact Financial from C$359.00 to C$346.00 in a research report on Wednesday. Jefferies Financial Group upgraded shares of Intact Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$316.00 to C$317.00 in a research report on Tuesday. Royal Bank Of Canada reduced their target price on shares of Intact Financial from C$329.00 to C$324.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 31st. National Bankshares lifted their price target on shares of Intact Financial from C$341.00 to C$350.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Finally, Barclays upgraded shares of Intact Financial to a “strong-buy” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$320.30.

Intact Financial Price Performance

Shares of TSE IFC opened at C$262.70 on Wednesday. Intact Financial has a 1-year low of C$250.28 and a 1-year high of C$317.35. The business’s 50 day moving average is C$270.35 and its two-hundred day moving average is C$289.93. The stock has a market capitalization of C$46.85 billion, a P/E ratio of 20.16, a PEG ratio of 2.01 and a beta of 0.14.

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.