TSX:FFH - Post Discussion
Post by
retiredcf on May 02, 2022 8:47am
Upgrades
Calling it “a top value play demonstrating resilience and solid operational momentum,” Scotia Capital analyst Phil Hardie raised his Fairfax Financial Holdings Ltd. target to $845 from $820 with a “sector outperform” rating, while RBC’s Mark Dwelle raised his target to US$750 from US$675 with an “outperform” recommendation. The average is $880.59.
“We believe the key takeaway from the quarter was that, despite rising interest rates and volatile financial markets, Fairfax demonstrated resilience and the results from its insurance operations continued to be strong,” he said. “We expect the market turbulence experienced so far through Q2 to create some near-term headwinds, but remain confident that Fairfax is on track to achieve double-digit expansion of BVPS over the mid-term. We are forecasting mid-single-digit growth in 2022 and accelerating to almost double-digit in 2023.”
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