RJ Raises Target “Following another material quarter of catastrophe losses for the industry,” Raymond James’ Stephen Boland bumped his Definity Financial Corp. target to $42 from $39 with an “outperform” rating. The average is $42.65.
“In light of the elevated cat losses Canadian insurers have experienced this year, we now expect harder market conditions in 2024 than previously anticipated. To reflect this dynamic, we are increasing our 2024 estimates and target price and maintain our Outperform rating,” he said.