Bullboard - Stock Discussion Forum Intact Financial Corp T.IFC.PR.I

Primary Symbol: T.IFC Alternate Symbol(s): IFCZF | T.IFC.PR.A | T.IFC.PR.C | INTAF | T.IFC.PR.E | INFFF | T.IFC.PR.F | T.IFC.PR.G | IFTPF | IFZZF | T.IFC.PR.K

Financial Services Insurance - Property & Casualty

Intact Financial Corporation is a Canada-based company, which is a provider of property and casualty insurance. Its Canada segment is engaged in underwriting of automobile, home and business insurance contracts to individuals and businesses in Canada distributed through a network of brokers and directly to consumers. Its UK & International segment is engaged in underwriting of automobile, home,... see more

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TSX:IFC - Post Discussion

Intact Financial Corp > Scotia Capital

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Post by retiredcf on Jun 28, 2022 7:39am

Scotia Capital

Scotia Capital’s Phil Hardie trimmed his targets for Definity Financial Corp. (“sector outperform”) to $35 from $37 and Intact Financial Corp. ( “sector outperform”) to $195 from $207. The averages on the Street is $37.27 and $207.29, respectively.

“We remain positive on both Intact and Definity but are bringing down our EPS and BVPS forecast for Q2/22 and trimming our targets,” he said. “The downward EPS revision reflects higher estimates of cat losses for the quarter, while the impact from the portfolio valuation adjustment is the predominant factor in our reduced BVPS forecast and lower targets. We believe the majority of Street estimates have not reflected these changes and anticipate downward revisions over the coming weeks. While this risks putting some modest near-term pressure on the stocks, we remain constructive on both stocks and believe they are well-positioned for the uncertain environment. Further, we believe M&A activity could potentially yield upside to our current 12-month targets.”

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