Upgrade Seeing the P&C insurance space as “well positioned for times of uncertainty,” Scotia Capital analyst Phil Hardie raised his target for Fairfax Financial Holdings Ltd. (“sector outperform”) to $820 from $810, while lowering his Trisura Group Ltd. (TSU-T, “sector outperform”) target to $51 from $53. The averages on the Street are $843.92 and $53.71, respectively.
“Low economic, interest rate and financial market sensitivity are key characteristics of P&C insurers that under current conditions appear to be increasingly coveted by financial services investors. Additionally, a continued favourable pricing environment over the next 12 to 18 months is also likely to add to the attractiveness of these stocks,” he said.