CIBC Lowers Intact Financial (TSE:IFC) Price Target to C$288.00

Intact Financial (TSE:IFC) had its price target dropped by CIBC from C$315.00 to C$288.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective would indicate a potential upside of 8.64% from the stock’s previous close.

Several other research firms have also commented on IFC. Scotiabank lowered their price target on shares of Intact Financial from C$339.00 to C$318.00 and set an “outperform” rating on the stock in a report on Wednesday. BMO Capital Markets increased their target price on shares of Intact Financial from C$330.00 to C$335.00 in a research note on Friday, July 11th. Jefferies Financial Group raised shares of Intact Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from C$316.00 to C$317.00 in a research note on Tuesday. National Bankshares increased their target price 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 raised shares of Intact Financial to a “strong-buy” rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$322.80.

Intact Financial Stock Performance

TSE:IFC opened at C$265.10 on Wednesday. Intact Financial has a one year low of C$250.28 and a one year high of C$317.35. The firm has a market cap of C$47.28 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.01 and a beta of 0.14. The firm’s fifty day moving average is C$270.68 and its two-hundred day moving average is C$290.01.

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.