Top Pick Following a year in which his coverage universe outgained the S&P/TSX composite index by an average of 29 per cent with 14 of 19 companies outperforming, Mr. Kwan (RBC) named a trio of companies as his “best ideas” for 2022. His top pick was:
1. Intact Financial Corp. (IFC-T) with an “outperform” rating and $200 target, exceeding the $197.17 average on the Street
“We believe IFC is delivering positive fundamentals, is the most defensive stock in our coverage, has potentially significant catalyst(s) (e.g., non-RSA Canada monetizations or we think an asset swap for Aviva Canada could make a lot of sense), yet IFC trades at just 2.08 times P/BV, a level barely above recent historical troughs,” he said.