RBC Upgrades ... This should be much higher ... PT to $ 8.00From RBC .... Our view: SFC's Q2/23 adjusted results were below our estimates but not by much on a core basis. SFC will be reporting core results by segment soon. Meanwhile, we make some adjustments to our model to better fit guidance (and having seen Q1/23 for Ivari now under IFRS 17 we have some added confidence). We correct our book value per share estimate to properly include negative goodwill on closing of Ivari (which we assume occurs on September 1). Our estimates heavily rely upon guidance — we adjust our risk premium higher. Higher BVPS still results in a higher PT. Outperform.